ETH reached local resistance in the form of the red zone of the channel, faster than the last cycle.
What does this tell us? The consolidation before the next move may be longer.
🤔Most will say that ETH has not reached ATH yet, so it should go up right now, I can say that ETH mostly lags in taking past highs and does it sometime after that like Bitcoin did.
💡And the phase of more active growth is at the end of the cycle, so be patient and the market will thank you with a profit.
What does this tell us? The consolidation before the next move may be longer.
🤔Most will say that ETH has not reached ATH yet, so it should go up right now, I can say that ETH mostly lags in taking past highs and does it sometime after that like Bitcoin did.
💡And the phase of more active growth is at the end of the cycle, so be patient and the market will thank you with a profit.
The script↗️ was written by me two months ago and is still relevant.
Ethereum will continue to consolidate in minus 25-35% from ATH.
Currently, in anticipation of the full deployment of the ETF, the price begins to smoothly enter the red tape of the Keltner channel, mainly for the next movement a retest is required, as it was at the end of 2020.
💡I think closer to autumn we will see a movement in the middle of the red tape, which will lead to its upper limit (6k+ at the moment)