In the analysis shared on the TradingView website, the analyst explains that it is more likely that the Ethereum price sees a decline before it sees another recovery. This comes as the price continues to weaken and the market capitulates in anticipation of when the next wave of action will begin.
Following the bounce from the $3,000 level, the analyst expects that the first target for the Ethereum price would be to reclaim the resistance at $4,000. It is the first point of interest for investors who would be looking to take profit.
