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ETH is currently in a gradual decline and is consolidating at the bottom, in a bearish continuation phase. Short-term sideways movement is merely a rest during the downtrend, not a reversal to stability.
Price is repeatedly oscillating at lows, wearing down bulls' patience. Once consolidation ends, there's a high probability of a rapid sell-off.
MACD continues to operate below the zero line, with green bars repeatedly showing increased volume and no sign of bullish golden cross reversal. The technical picture is entirely bearish, and the outlook remains bearish.
Trading suggestions: Aggressive traders short at 2110 spot price, conservative traders short around 2120-2150. Downside targets near 2070-2040, if breaks below 1980, long-term target 1800.
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