Analysis of the Ethereum market indicates consolidation below the $1,850 level, suggesting potential market exhaustion. Outlook remains cautiously optimistic.
Consolidation Below $1,850 Resistance
Ethereum recently faced rejection at the $1,850 resistance level, leading to decreasing trading volumes. The consolidation is taking place within a narrow range between $1,775 and $1,850.
Market Exhaustion Signals
Diminishing trading volumes indicate uncertainty among investors, who are awaiting a clear direction. The consolidation under $1,850 alters market psychology, potentially influencing short-term trading strategies.
Market Prospects in May
Analysts project that if bullish sentiment continues, Ethereum may enter a new trading range between $2,700 and $2,900. Technical indicators suggest possible upward movements as well.
Overall, the current consolidation of Ethereum below the $1,850 level highlights significant market factors that could influence prices in the near future. Investors should remain attentive to signals of change.
