Ethereum Price Shows Consolidation Patterns and Potential Breakout
Ethereum’s price is consolidating between $1,540 and $1,630 amid low volatility, indicating a potential breakout soon. The coin is trapped in a descending channel, and despite some whale accumulation, the overall bearish trend continues. Strong support and resistance levels, coupled with mixed signals from on-chain data, suggest traders should remain vigilant.
Ethereum (ETH) is currently trading between $1,540 and $1,630, a range that aligns with significant supply zones. Recent on-chain data indicates 7.9 million ETH purchased in this interval, highlighting a pivotal moment as bulls and bears clash over control of the price direction.
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