Eth Currently Testing decisive resistance region near the 200-day moving average at $2.5K.
The 6 Hours Chart
In the 6-hour timeframe, Ethereum’s rally has visibly stalled at the $2.5K mark.
With Selling pressure becoming apparent. This consolidation has formed a bullish wedge—an often reliable pattern suggesting a temporary pause before a potential breakout.
In summary, ETH in a state of consolidation under a major resistance level. Traders should monitor the wedge structure and the $2.1K–$2.5K range for clues the next move.
ONCHAIN ANALYSIS..
The bubble chart below illustrates total trading volume across all exchanges, categorized as Cooling, Overheating, and Highly Overheating.
