Ethereum is quickly approaching a a price range which it hasn't seen in a full year, but will this test of supply lead to a breakout on its second attempt, or will it need to pull back and consolidate again before the final blow?
While volume has been increasing, and the demand for ether growing rapidly thanks to the new De-Fi craze most of which is built on...
My bias leans bullish here as there is more confluence to support the idea.
Weekly OB paired with a more recent daily OB should provide some good demand for a substantial move up.
Also present is a break of the trendline shown, which may be arbitrary but does add some confluence. Any daily closes below 7806 would invalidate this idea.