Analysis of the ETH candle chart
Observing the recent candle chart shows that Ethereum is forming a quite clear accumulation zone. After a correction, the price is currently fluctuating within a narrow range, indicating that selling pressure is gradually weakening.
One noteworthy point is that the recent candles have long lower shadows, reflecting buying pressure emerging whenever the price drops. This is often a sign of supply absorption.
If $ETH breaks through the nearest resistance with increased trading volume, it is likely that a new upward movement will occur. Conversely, if it continues to move sideways, this may just be an accumulation phase before the market chooses its next direction.
Historically, such accumulation phases are often a precursor to strong movements.#ETH
