decreases while oscillator shows hidden divergence and narrowing. Seems strange for a scenario ? Yes, it is strange and we check series of levels we would see that the price has just broke down Fib 0.5 .
Finally we have at the chart with a rejection of long scenario thus we come to conclusion. ETHUSD price action should be for mid and long-term target price is $180.
Ethereum can still break the pattern and move higher in case Bitcoin will perform great ascending movement however BTCUSD is in decrease stage according to our latest analysis. Such situation will force ETH to go down finishing the pattern
Ethereum can still start an ascending movement once Bitcoin price action will perform the forecasted long scenario
However the market decides itself where to move and we can just analyze signs it gives us. The situation is quite bearish and if the 2nd phase of BTC forecast will be successful too ETH will drop to the mentioned level :(