Structurally ETHUSD has been trending down since the high of November 2021. This structure seems to be in-line with Elliott wave theory. Price is currently in a rising wedge and completing the ABCDE structure. Rising wedges are usually denoted as bearish structures.
Further, in ABCDE structures, price tends to move in the direction of wave B. If this assumption holds. Price could likely reverse to the $96 dollar area.
Further, in ABCDE structures, price tends to move in the direction of wave B. If this assumption holds. Price could likely reverse to the $96 dollar area.