Daily Market Analysis - ETH

Ethereum has been oscillating around the 3400-3000 level for almost a week now. Has it made everyone feel nauseous yet?

1. Weekly Situation

From the weekly perspective, it shows an upward structure. At this point, patience is required, because if it starts to rise, the time span will need to be calculated on a weekly basis.

2. Daily Situation

Looking at the daily chart, it is currently in a sideways adjustment state, like it's accumulating strength, ready to break out in a certain direction at any moment. It won’t be long before a clear direction is given.

3. Hourly Situation

The hourly chart has shown a downward trend, but this is actually laying the groundwork for the first upward move on the weekly chart.

Overall Summary

Ethereum's ability to maintain such a long period of sideways movement at a high level is also a strong display of performance. There is no need to rush; the market will continue to rise soon, as this oscillation period has been sufficiently long. Let's consider setting the next target directly at 3700, and it may even break the previous high directly.