Ethereum Reverses Trend, Eyes Further Decline

Ethereum has recently reversed its trend from a significant resistance zone between $1950.00, the upper daily Bollinger Band, and the 50% Fibonacci correction of the downward impulse from April.

This reversal is in line with the prevailing downtrend visible on both the daily and weekly Ethereum charts.

Given this development, it's likely that Ethereum will continue to fall towards its next support level at $1715.00, which corresponds to a former minor support level from July.