Daily $ETH Market Interpretation!
Ethereum has been fluctuating in the range of 3400 to 3000 for almost a week now. Doesn't it feel like your eyes are about to blur and you are getting impatient with the constant ups and downs?
Let's first take a look at the big picture. From the weekly chart, Ethereum is still in an upward channel. So, we need to be a bit patient. After all, the upward movement isn't something that can be measured in days; it has to be looked at on a weekly basis.
Now, looking at the daily chart, it seems like it's just treading water, adjusting its status. This is like an athlete warming up before the race, gathering strength and waiting for the right moment to sprint out. I estimate that the direction will be clarified soon.
Looking at the hourly chart, it appears to be descending, but don’t worry, this is just laying the groundwork for the upcoming weekly surge.
Overall, Ethereum managing to hover at such a high position for so long is not something everyone can achieve, which indicates it is still quite strong. Everyone, don’t rush; this market will soon continue to climb up again. Let's wait and see; perhaps the next target will be 3700, or even surpass the previous high!
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