On the daily timeframe, ETHUSD is still far below the kumo cloud, continuing the bearish trend that started in July and caused a significant decline. Until now, there has been no momentum strong enough to lift the price of this crypto back above the kumo, so ETHUSD is only able to hold at the price position of 2523.93. If you look at the stochastic indicator, the chart still shows a decline towards level 20, which indicates that the bearish pressure is still quite strong. However, this condition also indicates the potential for oversold saturation, which could trigger a trend reversal if there is a supportive catalyst.
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