Ethereum (ETH/USD) remains in a downtrend as price is unable to break above the key resistance zone (red). A bearish breakout and continuation are possible and could take price down to the -100% Fibonacci target at 146-150.
ETH/USD is probably completing a final wave 4-5 pattern. The sideways price action seems to confirm a typical wave 4 triangle chart pattern. A bearish breakout below the support (blue) trend line of the pattern could indicate a last push lower within wave 5 (orange) whereas a bullish break could be part of a larger wave 4 as long as price stays below the 50% Fib. A bullish reversal could take place as soon as price makes a lower low or breaks above the 50% Fib.