ETH needs to maintain this key support to continue his bull career

ethereum is consolidating over the key support of $ 2.5K, which reflects market indecision and low commercial activity.

This lateral movement indicates a state of equilibrium, with buyers and vendors who expect a decisive breakup to determine the next trend.

Technical analysis

By Shayan

The daily table

After a rebound above the $ 2.5K support region, eth has faced low commercial activity, which has led to an chopped price action. The asset has been experiencing a period of lateral consolidation, which reflects the indecision of the market. Taking into account the importance of the level of $ 2.5K as psychological support and the possible demand in this range, an upward rebound is expected, aimed at the MA of 200 days to $ 3K.

However, ethereum remains confined within the range of $ 2.5K- $ 3K, and a breakout is necessary to establish a sustained trend. If the sales pressure increases, a break below this range could take the price to the lowest levels.

The 4 -hour table

Within the lowest period, ethereum has been consolidating with low volatility after breaking below the lower limit of the descending wedge. This indecisive price action suggests that market participants expect a decisive breakup. Currently, the asset is below the key resistance region of the Fibonacci range 0.5-0.618, which could lead to rejection if sellers dominate.

However, if buyers enter, a rupture above this level could trigger a new rally. The short -term perspective remains uncertain, with the next action of the price determined by the next impulsive movement.

Sail analysis

By Shayan

Historically speaking, the futures market has significantly influenced ethereum's price action. The metric of the financing rates serves as a fundamental indicator of the feeling in the futures market, since it quantifies to what extent the buyers or sellers are executing their orders with greater urgency.

As shown in the graph, financing rates have experienced a slight increase during the recent market consolidation. This suggests that the futures market anticipates a potential influx of buyers after the recent impulsive accident. If this pattern persists in conjunction with sufficient punctual demand, the market is ready for rapid recovery and a renewed attempt to claim the fundamental threshold of $ 3K.

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