Ethereum Multi-Year Consolidation Could Spark A Parabolic Move – Details
Ethereum is holding strong above the $2,500 mark after a sharp rally in recent weeks, signaling renewed bullish momentum across the market. The second-largest cryptocurrency by market cap is now consolidating just below key resistance levels, with traders and analysts closely watching price action for confirmation of the next move. Bulls appear to be in control, with Ethereum reclaiming critical levels that were previously broken during months of sustained selling pressure. Related Reading: Solana Sees Renewed Demand As Capital Flows Turn Positive – Details Market sentiment is shifting....
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Ethereum price hit the final sell target of $8.00. Moving ahead, it is wise to wait for the next move as there may be a minor consolidation underway. Ethereum price ETH moved just as forecasted in my yesterday’s post in which I stated that there is a chance of the price moving down close to the $8.00 level. There was a downside thrust, and ETH/USD formed a yet another weekly low below $8.00. However, the bears need to be very careful in the short term, as there is a possibility that ETH may move in a range for a few hours before deciding the next move. I prefer not to trade when the market....
Ethereum, the second-largest cryptocurrency by market capitalization, is currently at a critical juncture as its price enters a consolidation phase. This period of price stability, marked by a narrow trading range, has left traders and investors in a state of uncertainty. With Ethereum’s price hovering around key support and resistance levels, market participants are closely monitoring technical indicators and market signals to anticipate the next move. The current consolidation reflects a balance between bullish optimism and bearish caution, creating an environment of indecision....