Ether (ETH) is still maintaining above the downtrend line, but the bulls are struggling to push the price up to $3,900.
ETH/USDT Daily Chart | Source: TradingView
The bears will try to pull the price below the 20-day EMA ($3,379), but the bulls are expected to buy strongly during dips. If the price strongly rebounds from the 20-day EMA, the likelihood of a rise to $4,094 will be higher.
Conversely, if the price closes below the 20-day EMA, it may signal that the breakout above the downtrend line is a 'bull trap.' Selling pressure could then pull the ETH/USDT pair back to $3,000.