What does that mean?
Unless this is a bull trap, a situation where exchanges would be targeting to hype their users to overexpose longs and liquidate them - price should continue to rise steadily. This is definitely not the time to use high leverage. Do not fall into a bull trap 😉
The price is quite stable, however, this does open new opportunities for price spikes (both up and down). If the price will continue to rise, at some point there will inevitably be a price spike up with almost immediate retrace. Volumes are slowly declining (either consolidation or another sign of a bull trap). 🎯
Forecasted highs at ETH $1640 and $1690
Mid-way point moving down to $1470 (This can also indicate a bull trap)
Forecasted lows at $1500 and $1470. If the price breaks below this point easily, it will is likely to trigger another sell-off.
Have fun trading! 🤑
If you would like to have early access to my ETH write "We are back to the bull market!" or "It is a bull trap!" in the comments down below!