#Ethereum #ETH #ETHUSDT #altsesaon
It's been three days that Ethereum trades sideways above support. There was a small move below the current zone that ended 18-December.
The current support level was activated first on a retrace 15-December, eleven days ago.
So here is the situation, based on the short-term, we have higher highs and higher lows. The rising wave/recovery started 21-November. On each drop, support is found higher compared to the start of the rise.
The last drop eight days ago resulted in the current chart.
We could say that anything goes here but the other projects, the smaller ones, are no longer moving down but starting to break up. These breakouts, unlike several weeks ago and last month, carry with them high volume. This high volume reveals a bullish continuation.
So Ethereum is mixed short-term with a bullish bias. Seeing the smaller altcoins moving ahead; no bearish action is bullish right now with Bitcoin trading above $86,500; months of consolidation; no new major lows; the market phase and broader cycle call for rising prices; we went recently through a flush; tether dominance turns bearish; the next move is up.
That's the conclusion. Do you agree?
Namaste.
✅ Trade here on $ETH
