As ETH continues through its wave cycle we are now at a point where I think Wave 5 has already started and we might be seeing a little correction rally which is where price is at on the downtrend channel that was drawn. There is also a blue resistance line that is key to what happens next for this coin. If we break above resistance we could see this coin make new highs. But I believe we will see rejection off that line and where we are now which is the downtrending channel to make new lows.