Ethereum is moving within a massive bullish channel and is now back at its mid-range, what I like to call the equilibrium level.
This zone has historically acted as both strong support and resistance.
Given how $ETH rallied from $1,500 to $4,600, this current move looks like nothing more than a bullish retest to that equilibrium, likely forming the next higher low.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Ethereum is moving within a massive bullish channel and is now back at its mid-range, what I like to call the equilibrium level.
This zone has historically acted as both strong support and resistance.
Given how $ETH rallied from $1,500 to $4,600, this current move looks like nothing more than a bullish retest to that equilibrium, likely forming the next higher low.