No major drops and low volatility is a major bullish signal. Ether is bullish now with all sellers gone. Look at the down wave from December 2024 and see what three days red would do to Ethereum's price. Today we are on the third red day and ETH is hardly a few dollars below the most recent peak. A signal of strength. This strength also means that we are likely to see a continuation of the bullish move soon, Ether will continue growing.
Good morning my fellow Cryptocurrency trader, I hope you are having a wonderful day.
Everything seems calm now, a small pause... Sell at resistance, buy at support; right?
Well, not always. It depends on the context.
Here we have a rising trend and Ethereum has been advancing nicely. Now we reach resistance, is this the time to go SHORT? It is possible to SHORT at resistance and do good but here we have a very clear uptrend. When ETHUSDT peaked 28-July there wasn't much selling. This is telling us that the bullish move is not over, not complete.
Ethereum will produce additional growth. Seeing this, it would be unwise to sell SHORT. If prices drop, it is better to wait for support and go LONG. Trade with the trend, it reduces risk and increases your chances for success.
Namaste.