📊 #Ethereum in consolidation phase with bullish target
Ethereum $ETH
Technical consolidation phase, with the price fluctuating within a narrow range and accumulating strength for a possible breakout. This market structure is common before more significant movements, and recent data indicates that ETH may be preparing to seek new levels between $3,650 and $3,900.
Consolidation Analysis:
- ETH has been holding between $2,900 and $3,600, with strong volume entering at the base of the range, especially around $2,960, signaling accumulation by institutional investors and whales.
- Technical resistance is near $3,650, and a sustained breakout could lead the asset to test $3,900, as recent chart analyses suggest.
📈 Strength Indicators
- Activity from large wallets has increased, with addresses between 1,000 and 10,000 #MemecoinSentiment #Ethereum accumulating more tokens, reinforcing confidence in the potential for appreciation.
- The number of new wallets on the Ethereum network has surpassed 1 million per week, indicating organic growth and greater adoption.