The price is re-consolidating after a strong upward wave, creating support around the 0.014 price level which is quite solid and has swept through liquidity with candle wicks. Continue buying in the major trend.
ETH price is tightly compressed within the bottom blue box. This is the exhaustion phase of selling pressure after a sharp decline. A breakout from this zone will determine the next major trend; surpassing 2,150 will trigger a rebound, while breaking below 1,930 will lead to a deeper decline.
If support holds, ETH is likely to revisit previous resistance levels that were broken earlier. The nearest target is the 2,250 - 2,350 zone, and further out is the red supply zone around 2,500. The blue arrows in your chart are anticipating a recovery.
Although accumulating, the lower high structure still dominates. The RSI indicator is currently low, indicating that the bears are still in control. Without strong buying interest, there is a risk that ETH could fall below the long-term support trendline around 1,700 - 1,850.
You can consider surfing within the box's range, but you need to set a tight stop loss because the medium-term trend is still downward.
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The price structure shows a strong trend reversal by breaking the previous descending trendline and surging strongly with large bullish candles, re-accumulating and creating support at the 0.0006 price level.
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