Recently, it has been mentioned multiple times that ETH has approached the POC of the previous rounds of bull markets at the weekly level. And it has started to consolidate continuously.
Frequent upward pin testing and selling pressure, is it a high-level bullish trap, or is the main force continuously absorbing selling pressure at this position?
From the continuous massive net inflow of ETH, it is evident that funds are continuously flowing in, so the prerequisite for a breakout upwards is already in place. The remaining question is whether it will be driven by news or by capital, and it is about to break through soon.
The approach is still to treat it with a consolidation mindset, mainly focusing on low buy during pullbacks and high sell as a supplement.
Upper resistance: 4414/4458/4636
Lower support: /4295/4261/4220/4193/