Although Ethereum (ETH) is witnessing sustained downward pressure, causing the asset to drop below $3,000, technical indicators suggest the cryptocurrency might be building for a short-term rebound. This outlook was presented by popular cryptocurrency analyst TradingShot, who in a TradingView post on November 18 pointed out that the rebound potential can be traced back to last month’s performance. ETH price analysis chart. Source: TradingView Since early October, ETH has been trading within a descending channel, experiencing two consecutive bearish legs, each declining roughly 27
source: https://finbold.com/ethereum-set-for-a-dead-cat-bounce-says-expert/