Ethereum has been sideways five weeks straight. Market conditions here are bullish and bearish short-term. Let me explain.

The market has bearish potential because of resistance. Ethereum has been facing resistance and fails to move forward for more than one month, but the bias isn't bearish, this is just a potential based on short-term price action.

The market has bullish potential because of a strong recovery after the 7-April low; because it trades above the August 2024 low and because there is very little retrace since the 5-May break of resistance in the form of EMA34 and MA200.

Ethereum is bullish because it trades above MA200 and remains above this level.

We are seeing bullish consolidation. There was an advance recently and after this advance the market went sideways. This means bullish.

While there can be a retrace short-term, market conditions remain bullish for this pair; ETHUSDT.

The bulls have the upper-hand and the majority of signals are bullish. Ethereum will continue to grow.

There is no scenario where Ethereum moves and closes weekly below its 3-Feb and 24-Feb lows ($2,075). It is simply consolidating before additional growth. It is going to go up, sooner rather than later.

Thanks a lot for your continued support.

Namaste.$ETH