Ethereum (ETH/USD) on a daily timeframe, Analysis

This chart illustrates Ethereum (ETH/USD) on a daily timeframe, where the price is consolidating within a broad horizontal range between approximately $2,000 (support) and $4,800 (resistance). A descending trendline from the most recent highs suggests bearish momentum, with price currently rejecting this resistance.

Key observations:
1. **Volume Decline**: The declining volume indicates weakening market participation, which may support a continuation of the downward trend.
2. **Bearish Bias**: The chart suggests a potential move toward the lower boundary of the range ($2,000) if the descending triangle pattern plays out.

Conclusion: If the price breaks below interim support (around $3,000), ETH could potentially test the $2,000 zone. A confirmed breakout above the trendline would invalidate the bearish scenario. ETHUSD