Ethereum Price Analysis: Ethereum, the second-largest cryptocurrency by market cap is up $0.82 to trade at $2935 currently. This uptick signals another reversal from the support region around $2875-$2850, projecting a fourth reversal within a month. This active demand zone has prevented a prolonged correction in Ethereum and shifted the price trend sideways. How far will this consolidation continue?
Also Read: Ethereum Whale Liquidates ETH Portfolio At $6.5M Loss, Price Dip Ahead?
Ethereum Price Analysis: Is ETH Price Ready to Hit $4100?
The Ethereum price has traded sideways for nearly a month, resonating within two horizontal levels of $3300 and $2850. The coin price rebounded several times from both these levels indicating indecision among market participants.
However, if the consolidation continues, the ETH price hits the downsloping trendline of a falling wedge pattern which has carried the current correction trend for over two months.
If the overhead supply at this resistance is
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