Here’s where the market stands this afternoon: ETH is around 12.05, down 6.44% over the past 24 hours.

The intraday range is 11.94 to 13.10, with a trading volume of 33 million USDT. Neither bulls nor bears are making any major moves right now; both sides are waiting for a signal.

If volume picks up and price breaks above 13.10 this afternoon, it suggests the bulls may still have some fight in them. On the other hand, if price retests 11.94 and fails to hold, this rally may be coming to an end. For those trading futures, the worst thing to do right now is to bet big on a direction—you could easily get wiped out by a sudden move.

Are you sitting on the sidelines this afternoon, or looking to make a short-term trade?

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