Ethereum is currently consolidating within a rectangular channel and trading around the mid-range of the structure. The Ichimoku Cloud is acting as a resistance barrier above the current price action.
We should wait for a decisive breakout above the channel resistance or a breakdown below support to confirm the next directional move.
Keep a close eye on further price action developments for confirmation.
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#ETH/USDT ANALYSIS
Ethereum is currently consolidating within a rectangular channel and trading around the mid-range of the structure. The Ichimoku Cloud is acting as a resistance barrier above the current price action.
We should wait for a decisive breakout above the channel resistance or a breakdown below support to confirm the next directional move.
Keep a close eye on further price action developments for confirmation.
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