ETH breakout, or downtrend continuation?

١١ يوليو ٢٠٢١

Monitoring the consolidation of ETH looking for a breakout of the downward trend. A U-shaped recovery has been my expectation since the price fell below 4K. Without any fundamental analysis, I would expect the downtrend to continue and lower lows to be found before recovery. However, with the expectation of EIP-1559 going live on mainnet on August 4th, I am monitoring the downtrend for an earlier breakout and quick upward price action.