Ethereum looks very similar to Bitcoin here. Yes, we had a sharp selloff and the weekly candle was ugly on the surface, but structurally this is still range behavior, not a breakdown.
On the weekly:
• Price is still trading inside the larger range
• The selloff respected higher-timeframe support
• Weekly candles continue to show higher lows
• Trend structure remains upward-biased, just consolidating
This is classic chop in the middle of the range. Volatility shakes confidence, not structure. As long as ETH continues to hold the range lows and build above them, this looks like digestion after a strong impulse, not the start of a larger downside move.
Markets frustrate participants before they move. ETH is doing exactly that right now.
Until we either:
• Lose range support with acceptance, or
• Reclaim range highs with strength
Assume consolidation and positioning. Don’t confuse noise for a trend change, and don’t let chop shake you out of higher-timeframe structure.
On the weekly:
• Price is still trading inside the larger range
• The selloff respected higher-timeframe support
• Weekly candles continue to show higher lows
• Trend structure remains upward-biased, just consolidating
This is classic chop in the middle of the range. Volatility shakes confidence, not structure. As long as ETH continues to hold the range lows and build above them, this looks like digestion after a strong impulse, not the start of a larger downside move.
Markets frustrate participants before they move. ETH is doing exactly that right now.
Until we either:
• Lose range support with acceptance, or
• Reclaim range highs with strength
Assume consolidation and positioning. Don’t confuse noise for a trend change, and don’t let chop shake you out of higher-timeframe structure.
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Decoding onchain data for everyday investors 📊
Whale tracking 🌐 Exchange flows 🌐 Smart money 🌐
DMs open for new projects. 📩
Follow us on X: x.com/OnchainDecoded
Join our telegram: t.me/onchainnewsblog
Whale tracking 🌐 Exchange flows 🌐 Smart money 🌐
DMs open for new projects. 📩
Follow us on X: x.com/OnchainDecoded
Join our telegram: t.me/onchainnewsblog
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.