ETH/USD: Bears Are Running out of Steam

On the daily chart, bears are also controlling the situation. At the moment, Etheruem is unable to hit the vital mark at $200 as the trading volume has not come back to the positions of summer 2019. Although ETH rocketed by around 20% during the recent growth, the long-term scenario is bearish.

Moreover, the Ichimoku cloud has not got out form the red zone which confirms the decline. In this case, sellers are about to push the rate to $165 in the upcoming weeks.