The next support on the downside is $308.392 and below it $288. If the ETH/USD pair rebounds off this support zone aggressively, it will indicate that the bulls are accumulating on dips.
However, the bears are unlikely to give up their advantage easily. They will attempt to stall any pullback attempts at the downtrend line and then at $398.263. If they succeed, it will be a huge negative and will increase the possibility of a break below $288.
This bearish view will be invalidated if the bulls can push the price above the downtrend line and the overhead resistance at $400.
However, the bears are unlikely to give up their advantage easily. They will attempt to stall any pullback attempts at the downtrend line and then at $398.263. If they succeed, it will be a huge negative and will increase the possibility of a break below $288.
This bearish view will be invalidated if the bulls can push the price above the downtrend line and the overhead resistance at $400.
