The analyst discusses Ethereum against the US dollar, noting its correlation with Bitcoin's volatility. He observes a bearish trend on the 1-hour timeframe, with Ethereum finding resistance at prior support levels. Based on Fibonacci retracement levels from the recent low to high, he anticipates a further price decrease, targeting 3630 potentially extending down to $3400. The relative strength index indicates a predominantly bearish trend with lower lows and highs on the 1-hour. While bullish divergence is possible the stochastic indicators remain bearish, predicting Ethereum will reach 3500.