Since the beginning of last month, the ETH/USD pair has been actively declining: it has already reversed from the upper boundary of the sideways range of 2437.50–2250.00 (Murray level [7/8]–[4/8]), broken below its lower boundary, and is now attempting to stabilise below 2000.00 (Murray level [0/8]), a key level for the bearish side, as a breakdown would signal an exit from the long-term ascending channel.