From the beginning of the month we can see a side ways movement for ethereum on a lower time frame like H4, and a test of the white trend line seems good to go. On a daily time frame we can see the price under an important resistance level and indecision in the last couple of days. Even though RSI looks very oversold, ADX seems that this current side-ways correction movement from the bearish run is loosing strenght. If the price breakes the white bearish trend line , and the white dotted resistance line and is making a higher low i will call for long, but if if the price bounces from the white trend line or is not even touching it and we will see strog bearish action, then short to go.
In other words we can see the big falling wedge, and the price bouncing back from the green trend line. If it stays above 420 area of resistance we can see a short-time trade oportunity. When it will break the falling wedge we could see a biig run up.