Ethereum#ETH has recently experienced a significant drop, falling back into the support zone and closing below a key trendline that had previously acted as a strong resistance. This break below the trendline raises the possibility of a fake out where the price could reverse course and move higher instead of continuing its downward trajectory. Given the strength of the support zone and the potential for a rebound it's likely that ETH could turn this recent decline into a buying opportunity setting the stage for a potential move to the upside. Traders will likely be watching for confirmation of this reversal looking for signs of bullish momentum before committing to a more sustained rally.
