ETH has been trading inside a symmetrical triangle pattern, indicating uncertainty about the next directional move.

The 20-day EMA ($2,504) has started to turn down, and the RSI is in the negative territory, indicating a minor advantage to the bears. Any recovery attempt is likely to face selling at the 20-day EMA. If the price turns down from the 20-day EMA, the bears will make one more attempt to sink the ETH/USDT pair below the uptrend line.

If bulls want to make a comeback, they will have to push the price above the moving averages. The pair may then travel to the resistance line, which is likely to attract sellers. A break and close above the triangle give it a pattern target of $3,409.