Crypto Blog
Ethereum’s price has been consolidating over the past few months, showing neither bullish nor bearish intentions. Yet, things might be about to change soon.
The future direction of the market relies heavily on whether the market breaks out of the pattern to the upside or the downside. Meanwhile, the RSI also shows values of around 50%, which indicates a state of uncertainty in the market.Looking at the 4-hour chart, it is evident that the asset has recently broken below the $2,500 level. However, it is currently retesting that line, and if it can break back above, a rally toward the $2,800 resistance zone would be highly probable.
While the price chart has been consolidating, investors wonder whether a period of accumulation or distribution has been going on. Analyzing the exchange reserve metrics in this situation can be beneficial.
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