✴️ Ethereum Bearish Bias Revealed ($1650 or $1755 Next?)

Ethereum is showing a clear bearish bias on the daily timeframe.
Trading volume peaked 9-November and a high hit 10-November, after the peak we can easily spot lower highs.

The daily candle has gone below EMA10 for the second time in one week.
This signals that the short-term potential is turning from bullish to bearish. This signal is only valid upon confirmation once the daily session closes below $1990, which should happen in a matter of hours.

Breaking below this level opens the doors for a strong correction to show up.
We are thinking about a flash crash but it can also go slow.

I am not worried about the next target, all I can tell you is that it is going down, according to this chart.

Prepare accordingly.
Use this information in the best way you can.

The market moves in cycles and within these cycles we have waves.
Up-waves and down-waves...

Ethereum has been going up since June 2022, it is time for it to go down.
When the down-wave is over it will move back up and grow long-term.

Now, $1650 or $1755?
Maybe much lower.

Namaste.

Comment:

Ethereum can be seen green the last 4H sessions but the "upper trendline" still remains intact:

Trading volume is also lower when green as to compared to red (far right).

A break and close above $2,066 is needed for the bulls to rejoin the race.
Any trading below the "upper trendline" and the short-term bearish bias seen on this chart remains in place.