After the merge, the price of ETH is rapidly going down. It's basically a free fall right now. It was clearly a sell-the-news event. I am very bearish until we break the major trendline that you can see on the chart. There is absolutely no reason to buy ETH at this moment. On the daily chart , we can spot a descending parallel channel that is very well respected...
it seems we touched the channel . whats your idea about drawing thus channel ? we break down or we will back to upper side from this area ?
when trend-line breaks up then spring is coming soon. more details will be published when my idea cover best results.