Ethereum managed to surpass the $1,800 price level initially, but it has been experiencing a period of consolidation recently. In the past 24 hours, there has not been much progress in the price movement. Similarly, the weekly chart shows that Ethereum has not made significant price advancements during this timeframe.
The technical outlook for ETH is bearish, with indications of falling demand and accumulation. This suggests a lack of enthusiasm from buyers since Ethereum started trading sideways. The altcoin has been consolidating below an important resistance level, which, if successfully surpassed, could pave the way for a potential recovery.
Furthermore, ETH has formed a pattern that suggests the possibility of a bullish breakout in the near future. However, it’s important to note that for Ethereum
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