On the daily chart of ETHUSD, the price has been trending downwards since March. The recent candles have formed a bearish engulfing pattern, indicating a potential continuation of the downtrend. The volume has been increasing, which suggests that the move is gaining strength. The price has broken below the support level of 2300, and the RSI is in oversold territory, indicating a potential bounce. However, the MACD is still bearish, and the price is trading below the 50-period moving average. This suggests that the downtrend is likely to continue. The price may test the next support level around 1800. The…

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