While the daily chart remains neutral, on lower timeframes the sentiment is Bearish.
Here we can spot a couple of signals that give credence to this bias: - The formation and execution of a Running Triangle (white ABCDE Triangle Wave). - Bearish hidden divergence on the RSI and MACD (yellow lines). - The EMA 10 (baby blue) and MA 20 (yellow) crossing the MA 50 (magenta) from above.
Should it be confirmed, ETH's price might observe further losses towards the 1600$ range.