$ETH

Ethereum has been moving sideways for five consecutive weeks. Current market conditions combine both bullish and short-term bearish trends. Let me clarify:

The market has a bearish potential due to resistance. Ethereum is facing resistance and has not been able to break through it for over a month, but the overall bias is not bearish; rather, this potential depends solely on short-term price movements.

The bullish potential is evident through the strong recovery after the low recorded on April 7; because it is trading above the August 2024 low, and because the correction has been very limited since breaking the resistance on May 5, represented by the EMA34 and MA200 moving averages.

Ethereum shows a bullish trend because it is trading above the MA200 moving average and is still maintaining this level.

We are currently witnessing a bullish consolidation. After the recent rise, the market has started to move sideways, which is considered a bullish sign.

Despite the possibility of a short-term correction, market conditions remain bullish for this pair, ETHUSDT.

Bulls are dominating the market, and most signals indicate the continuation of the upward trend. Ethereum is expected to continue growing.

There is currently no scenario in which Ethereum can move and close weekly below the lows of February 3 and February 24 (at the level of $2,075). What we are seeing now is just consolidation before a new growth wave. It is expected to rise soon, and not after a long time.