Ethereum’s Quiet Storm: Bullish Setup Builds as Bitcoin Holds the Trigger
Ethereum closed indecisively, signaling the market is still unsure. Although unclear, he remains hopeful, adding that Bitcoin and BTC domination are displaying strength that might support ETH in the short term, with $2,800 as the next significant hurdle.
The monthly candle finished indecisively, indicating short-term hesitancy, while the quarterly candle closed strongly bullish. He believes this will lead to greater upward movement in the coming months as higher timeframes dominate.
He noted that today's daily candles for ETH and ETHBTC ended indecisively, showing market anxiety. However, if Bitcoin supremacy declines, ETHBTC may gain strength, which might power Ethereum's next step higher.
He thinks clean, bullish candles from the 0.02270 BTC range would boost Ethereum into the $2,800 barrier, a crucial mark.
He said $2,400 is Ethereum's major daily support zone until fundamentals change. This preserves the wider structure and the bullish premise.
Chart confirmation needed for next intraday move
In his conclusion, the expert noticed Ethereum's intraday chart's increased volatility. Despite the erratic market activity, he sees distinct setups that might provide near-term trading opportunities.
A strong bullish breakthrough and closing over $2,550 barrier might imply a long entry. If the price pulls back near $2,380 and creates a bullish reversal pattern, it might also start a long position.
With these circumstances in mind, the analyst will attentively examine the intraday chart. Identifying a clear, high-quality setup with price structure and momentum can help him timing the next scalp trade.
