Analysis: ETH is currently losing its upward trend and will see a strong trend in the future

Analyst Eustace Cryptus pointed out that ETH is about to fall below 12 EMA. The daily chart MACD also has a bearish divergence. In the short term, ETH needs to break through the resistance level of $250 to continue to rise above $260. Unless the digital currency leader bitcoin rises strongly or ETH volume soars, ETH may fall to the lower arm of the tightening triangle, in line with the 23.6% Fibonacci retracement. ETH prices may continue to trade horizontally within the triangle, and as the range of shocks narrows, traders can expect strong movements in either direction.