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The current analysis of ETHUSD indicates a continuation of a bearish trend, specifically identified as the 5th wave down within Elliott Wave theory. The most probable scenario projects a decline in market price, targeting levels below the established low of November 21st. This implies a potential target price around $1900. An alternative scenario suggests a potential bullish reversal, originating from a support level at $2,895. If this bullish momentum materializes, the price could ascend, breaking above a resistance range identified between $3,350 and $3,548. However, this bullish alternative is currently considered less probable. The primary bearish projection remains contingent on the price staying below the mentioned resistance levels. Should the price surpass the $3,548 resistance, the bearish outlook for the 5th wave down would be invalidated. The analysis is conducted on a daily timeframe.