I'm taking Fibonacci Regression and Linear Regression into account to define this bearish bias until late July (early August).
As previously happened, during the monthly closing, the ETH value should rise another 10 to 15%. However, the downward trend of the BTC and ETH will probably only be broken in about 5 to 6 weeks, and therefore the linear regression is still valid until this period.
The arrow in black draws only one possibility, considering these themes above. As you can see, it must have a bit of trouble breaking through the resistance lines (the red bases) during the July 5th drop to the end of the month.
If the value of the ETH does rise in the month changeover between June and July, then it means that this uptrend during the month changeover really makes sense. And this will be one of the factors to boost ETH at the end of July to rise again.
As previously happened, during the monthly closing, the ETH value should rise another 10 to 15%. However, the downward trend of the BTC and ETH will probably only be broken in about 5 to 6 weeks, and therefore the linear regression is still valid until this period.
The arrow in black draws only one possibility, considering these themes above. As you can see, it must have a bit of trouble breaking through the resistance lines (the red bases) during the July 5th drop to the end of the month.
If the value of the ETH does rise in the month changeover between June and July, then it means that this uptrend during the month changeover really makes sense. And this will be one of the factors to boost ETH at the end of July to rise again.