$ETH has spent 3 days stuck in a $44 box. Something has to give.
Quick recap: Nov 4 ripped to $2,450. Nov 5 gave every cent of it back and wicked to $2,206. Since Nov 6 price has been trapped between $2,210 and $2,254, and it's sitting at $2,234 now (-0.56% in 24h, 24h range just $2,223–$2,251).
What stands out:
• Volume has dried up. 24h spot turnover is about $134M vs a ~$557M daily average over the past 29 days. Roughly a quarter of normal.
• The 30-day picture is still heavy: from ~$2,507 a month ago to $2,234 now, about -11%.
• ETH/BTC at 0.02946, slightly red. No relative strength yet.
Levels I'm watching:
• $2,254 = top of the box. A close above with volume reopens the $2,300 area.
• $2,206–2,210 = the post-dump low. Losing it on a real volume bar would be the first sign the range breaks down.
Tight ranges on thin weekend volume tend to resolve fast once liquidity comes back. Direction is the open question.
Breakout or breakdown first?
Not financial advice.
#ETH #Ethereum #CryptoTrading
Quick recap: Nov 4 ripped to $2,450. Nov 5 gave every cent of it back and wicked to $2,206. Since Nov 6 price has been trapped between $2,210 and $2,254, and it's sitting at $2,234 now (-0.56% in 24h, 24h range just $2,223–$2,251).
What stands out:
• Volume has dried up. 24h spot turnover is about $134M vs a ~$557M daily average over the past 29 days. Roughly a quarter of normal.
• The 30-day picture is still heavy: from ~$2,507 a month ago to $2,234 now, about -11%.
• ETH/BTC at 0.02946, slightly red. No relative strength yet.
Levels I'm watching:
• $2,254 = top of the box. A close above with volume reopens the $2,300 area.
• $2,206–2,210 = the post-dump low. Losing it on a real volume bar would be the first sign the range breaks down.
Tight ranges on thin weekend volume tend to resolve fast once liquidity comes back. Direction is the open question.
Breakout or breakdown first?
Not financial advice.
#ETH #Ethereum #CryptoTrading
