I will wait for you at 1960, remember to come

Recently, ETH has been oscillating without significant movement. Looking at the weekly chart, it has formed a doji star for five consecutive weeks. First of all, ETH broke below the ascending trend line of 881~1071 back in March. The rebound over the past three months is a phase of retesting and confirmation. Now the price is gathering near the trend line. Although the downtrend paused after a strong rebound, the triangular breakout pattern remains active. Additionally, the EMA50 is currently at 2570 USD, which is the biggest obstacle to ETH's rise. Reviewing past cycles, the subsequent declines after the price fell below the EMA50 were 27.3%, 70.1%, 17.9%, 26.4%, and 53.9%. The closing prices over the past five weeks have been below 2570, and the Stoch RSI is currently forming a death cross in the overbought zone, indicating that this is the most critical battlefield for bulls and bears right now.

It's time to choose to accelerate downward, with a short-term target around 1960.