Ok, back to ETH, the first sign the trend was getting weaker was when it lost its purple . Now, the 21 is flat, the is low, and it seems the bulls and the bears are extremely weak and tired. Therefore, we have a boring consolidation. The yellow line is a good support, but I see no clear resistance around. The real question is if this movement is an accumulation or distribution - either way, only a breakout will tell us.
I find the weekly chart worth of studying in this situation:
It did a , yes, but ETH didn’t have the strength to keep going. There are some supports like the fib retracement and the 21 , but that’s all. It needs to close above this red line to start to get interesting again.
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