Ethereum (ETH) has been trading within a broad consolidation range of $2,800 to $4,000 for nearly 10 months, signaling a phase of market indecision.
Notably, an analysis by CredibleCrypto suggests this range could be an ideal entry point for investors, as Ethereum gears up for a potential breakout.
Ethereum’s consolidation phase
Currently trading near $3,189, Ethereum is positioned just above the lower boundary of its 10-month consolidation range. After briefly climbing to a local high of $3,716, Ethereum has undergone a correction, which analysts see as part of a broader accumulation process.
Ethereum price analysis chart. Source: CrediBULL Crypto / X
This extended sideways movement is seen as a precursor to a bullish move, aligning with historical patterns observed before major price rallies in the cryptocurrency market.
CredibleCrypto has identified the high timeframe (HTF) demand zone between $2,400 and $2,800 as the ‘ultimate buy zone.’ This region is consid
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