While Bitcoin ( $BTC ) has been stealing the spotlight, Ethereum ( $ETH ) is quietly stuck in a bearish channel on the daily chart.
๐ Lower highs. Lower lows.
Price is respecting both the upper and lower bounds with precision.
๐ Whatโs happening:
Since December when price topped at $4,125 $ETH started it's bearish move
Volume is thinning = indecision
ETH/BTC pair is underperforming
๐ Things to watch:
A strong breakout above $1,790 with volume could flip the narrative
Otherwise, we may go back to $1,400 or even current channel support at $1,000
Are you positioning for a breakout or shorting the range?
โ๏ธ Drop your ETH bias + chart if you have one. Letโs compare setups ๐
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