$ETH is it currently gathering strength or preparing to choose a direction?
I looked at the 1H chart and feel the rhythm is very clear.
The price is consolidating around 3100, with fluctuations narrowing.
Technical analysis:
$ETH is currently moving along the middle Bollinger band.
The upper and lower bands are starting to converge, indicating the market is waiting for a breakout.
The volume is not large, but there has been no panic selling.
My thoughts:
Short-term bias is slightly bullish, provided it does not break key support.
It feels more like a consolidation after a pullback rather than a reversal.
Buy Zone:
3090 – 3110
TP targets:
TP1: 3150
TP2: 3200
TP3: 3260
Stoploss:
Below 3045
Why might it move?
1️⃣ Too much consolidation can easily lead to directional movement
2️⃣ There is significant buying support around 3100
Personally, I will patiently wait for confirmation and will not chase high prices.
Do you think $ETH will go up first or down first? 👇
Follow me for continuous sharing of real trading ideas.