Ethereum is stagnant, but currents are surging! Is a turning point coming?
Looking at Ethereum's daily chart, doesn't it feel a bit 'stuck'? That's right, this phase of sideways movement on the daily level is indeed a key signal!
Think about it, what does sideways movement indicate? It simply means that both bulls and bears are at a temporary stalemate, and the market is holding its breath waiting for direction! This is the calm before the storm.
Here comes the key point:
If it can break upward from this range of fluctuations, it will get lively! This could very well be seen as the 'starting gun' for a rally, attracting a large number of bulls to rush in, causing the price to rise!
Conversely, if it unfortunately breaks downward, the bears will be laughing all the way, pushing the price down further.
However, just staring at the sideways movement isn't enough; we also need to look at the trading volume as a 'mirror'!
If the volume surges when the breakout happens, doesn't that indicate real capital is driving it? Then this breakout becomes much more credible! Similarly, if there's a surge in volume during a breakdown, it proves that the bears are indeed strong.
Finally, we can't just rely on charts. How is the overall market sentiment? Is there any new development with Ethereum itself? For example, are there any significant new applications launching? Or is there any movement in policy? These could all be 'X factors' that influence Ethereum's next steps!
If you've been chasing highs and cutting lows and often find yourself trapped, without the latest news from the crypto world and without direction, click on my profile and follow me. Whether it's a slow bull phase or sector rotation, you won't miss out.
