Expanding out to the end of the year, Ethereum has a nice upward funnel (and potential triangle pattern) that should promise higher highs going forward. The next key area for ETH to test will be $2200-2400, which is around the Pivot at R2. If it clears this area, I’d look for a breakout to occur and for ETH to enter volatile price discovery. All indicators are GREEN at the moment, with ETH up 10% in the last week.
The bears are losing the upper hand on this trend, so I don’t see it as a likely scenario that ETH would move downward from here. But a “Black Swan” to look out for is a collapse in the NFT boom and/or Artists moving to another blockchain, like Cardano or Tezos. A move like that could reverse the ETH price and break downward.