ETH is currently in a "consolidation within a downtrend" pattern—on the daily chart, ETH has fallen from a high of 2,041.99 USDT to 1,966.58 USDT. Both short-term and long-term moving averages are in a bearish alignment, indicating a weak trend. At the same time, the Bollinger Bands have narrowed to the smallest width in nearly 30 days, suggesting that price volatility has been extremely compressed, and the market is waiting for a breakout in a new direction.
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ETH is currently in a "consolidation within a downtrend" pattern—on the daily chart, ETH has fallen from a high of 2,041.99 USDT to 1,966.58 USDT. Both short-term and long-term moving averages are in a bearish alignment, indicating a weak trend. At the same time, the Bollinger Bands have narrowed to the smallest width in nearly 30 days, suggesting that price volatility has been extremely compressed, and the market is waiting for a breakout in a new direction.