*log scale* ETHEREUM ran into major downtrendline resistance (red, see the picture below)... ...and then dropped to the support confluence (cyan area created by lime and white uptrendlines). We are approaching the apex of triangle📐 created by lime uptrendline and red major downtrendline so the decision point is coming. If the cyan area support doesn't hold, we could see price spilling to the yellow channel upper edge near 1300. On the other hand if there is break of the red major downtrenline to the upside, bulls are in charge.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.