$ETH sitting in a tight range right now — let's break down what matters.
You've got two clear boundaries defining this consolidation. Support sits at $2,319, which aligns with a Fibonacci level — that's your floor for now. Resistance is clean at $2,400. Price is compressed between these two, coiling.
Here's the setup: Above $2,400, the structure opens up toward $2,823. That's your measured move if bulls reclaim the range high and follow through. Clean breakout trade — wait for the reclaim, confirm it holds, then look for continuation.
Invalidation is straightforward: If $2,319 breaks and doesn't reclaim quickly, the range fails and you're looking for lower structure.
This is textbook range trading. You teach patience here — don't chase inside the box. Let price show you which boundary it respects, then trade the break with confirmation. Structure first, entry second.
You've got two clear boundaries defining this consolidation. Support sits at $2,319, which aligns with a Fibonacci level — that's your floor for now. Resistance is clean at $2,400. Price is compressed between these two, coiling.
Here's the setup: Above $2,400, the structure opens up toward $2,823. That's your measured move if bulls reclaim the range high and follow through. Clean breakout trade — wait for the reclaim, confirm it holds, then look for continuation.
Invalidation is straightforward: If $2,319 breaks and doesn't reclaim quickly, the range fails and you're looking for lower structure.
This is textbook range trading. You teach patience here — don't chase inside the box. Let price show you which boundary it respects, then trade the break with confirmation. Structure first, entry second.
