Ethereum Price Breaks Bullish Trend Line, Deepens Losses Likely

Ethereum's price action has taken a turn for the worse as it broke a main bullish trend line on the short-term basis.

The cryptocurrency's decline has been accompanied by surpassing EMA50's support, which indicates a strong likelihood of deepening losses in the near future.

The emergence of positive signals from relative strength indicators after reaching oversold levels did not affect the price action, highlighting the dominance of selling powers.