$ETH tagged $2,450 on Wednesday. Today it's up just 0.04% on the week.
That's the whole story of this chart: a sharp squeeze from ~2,230 to 2,450 on Nov 4, then a full round trip on Nov 5, with the session low printing at 2,206. The sell-off candle carried the heaviest volume of the week, which tells you the rally had no real follow-through.
Where it stands now ($2,246.86):
• 24h range is tight: 2,210 – 2,254
• 24h volume ~$418M, well under the 30-day daily average of ~$583M
• Price sits below the 20-day average (~2,327) and the 50-day (~2,493)
• ETH/BTC at 0.02955, slightly green on the day
My read: 2,206–2,210 is the line that matters. Two tests held this week, but thin weekend volume makes a third test less predictable. Bulls need a reclaim of ~2,327 before that spike to 2,450 looks like anything more than a liquidity grab.
Compression like this rarely lasts. Which side breaks first?
Not financial advice.
#Ethereum #CryptoAnalysis #ETH
That's the whole story of this chart: a sharp squeeze from ~2,230 to 2,450 on Nov 4, then a full round trip on Nov 5, with the session low printing at 2,206. The sell-off candle carried the heaviest volume of the week, which tells you the rally had no real follow-through.
Where it stands now ($2,246.86):
• 24h range is tight: 2,210 – 2,254
• 24h volume ~$418M, well under the 30-day daily average of ~$583M
• Price sits below the 20-day average (~2,327) and the 50-day (~2,493)
• ETH/BTC at 0.02955, slightly green on the day
My read: 2,206–2,210 is the line that matters. Two tests held this week, but thin weekend volume makes a third test less predictable. Bulls need a reclaim of ~2,327 before that spike to 2,450 looks like anything more than a liquidity grab.
Compression like this rarely lasts. Which side breaks first?
Not financial advice.
#Ethereum #CryptoAnalysis #ETH
