Ethereum's strong rally, are the bulls about to make a big move?
Today, Ethereum's performance is quite robust!
The price has been climbing steadily throughout the day, basically not giving the bears any breathing room, reaching a high of $2692. Each pullback seems to be bounced back like a spring, indicating the bulls are indeed strong.
From the market perspective, Ethereum seems to be trapped in a box, repeatedly testing the support below before standing firm, but the upper and lower boundaries are tightly constrained, with both bulls and bears in a phase of accumulating strength.
The volatility range is getting tighter, and it's likely hard to determine a winner in the short term; sideways consolidation is expected to continue.
However, there is a detail to note: the central line of the recent fluctuations is subtly moving upwards, and the magnitude of each pullback is getting smaller, indicating that the bulls are quietly gathering strength.
Given this momentum, once the current consolidation period ends, it is highly likely there will be another upward surge.
But don’t get too excited; as the critical time window approaches, the market may suddenly change, and both volatility and risk could increase, so stay alert.
Now is suitable for quick in-and-out trades. Focus on the upper and lower edges of the range for swing trades, avoid chasing highs and selling lows, and strictly set stop-loss levels.
Remember, in a bull market, the most expensive thing is not the chips, but the safety of your principal!
