#ETHProspects Ethereum (ETH) is in a consolidation phase and there are indications that a price breakout could be imminent! 🚀 Currently, ETH price is stuck in a range between $3.2K and $3.5K, and Ethereum’s leverage ratio has increased to 0.61. 📈 This shows that many traders are taking leveraged positions, which can be risky but also shows confidence in the upcoming price movement.
This increase in leverage ratio often leads to higher volatility, especially when the market is consolidating. ⚡ If ETH manages to break through the resistance level at $3.5K, it could be a sign of greater bullish momentum towards the price target in the range of $3.8K to $4K. 💰 However, if the price falls below the support level of $3.2K, it could open the possibility of a further decline to around $3K or even $2.8K.
So, now is a crucial time for traders and investors to pay attention to ETH movements, as any small changes can trigger liquidations and sharp price movements. 🔍