An interesting technical outlook frames the current Ethereum price action as a range-bound environment on the higher timeframe, where patience is going to dictate the next move.
The Ethereum price action is now at a sensitive zone, and according to crypto analyst Minga, the path to a genuine cycle bottom requires one more leg down, and the levels that need to be wiped out before a macro bottom are defined.
ETH Trading In A Multi-Year Range
Technical analysis of the weekly candlestick timeframe chart shows that Ethereum is consolidating within a broad macro range whose boundaries are defined by two extremes: the 2021 all-time high at $4,877 on the upper end and the 2022 bear market low at $878 on the lower end.
According to crypto analyst Minga, the way to trade such a range-bound market is as easy as can be: trade level to level. Interestingly, the ETH has followed a predictable sequence while trading within this range. The price swept the 2021 all-time high, rejected a
We współpracy z: https://www.newsbtc.com/altcoin/ethereum-eyes-macro-bottom-as-key-level-comes-into-focus-analyst/
