I don't know why I didn't share my Ethereum analysis earlier, but it's not a problem. I'm sharing it now with some modifications for you. I conducted this analysis in a multi-timeframe manner because the chart isn't clear. First, I analyzed the four-hour timeframe, as shown in the image. We're in a descending channel, but what caught my interest is a bullish trend of about 280 candles within this channel. However, the lifespan of this channel is approximately 320 candles, which is significantly long compared to the bullish trend, indicating its potential impact on the ongoing uptrend. However, in a lower timeframe within this descending trend, we have a neutral trend (Range Trading). As indicated on the full chart, we have four touches at the top of the range, where the price failed to break out, followed by a sharp and volatile decline, suggesting a bearish inclination. Conversely, we have three touches at the bottom of the range, with the distance between the third touch and the second one being greater, indicating, with temporal analysis, the inability of buyers to push the price higher. It seems that sellers have more power than buyers, partly due to the descending channel in the higher timeframe. I've marked a minor resistance and support on the chart, which are good entry points for trading in the 15-minute timeframe.
Overall, this analysis reflects my personal opinion and aims to enhance your market insight, with no specific recommendations for buying or selling. May it be profitable for you!
Overall, this analysis reflects my personal opinion and aims to enhance your market insight, with no specific recommendations for buying or selling. May it be profitable for you!