#ETHUSDT | DAILY TIMEFRAME UPDATE

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#ETHUSDT | DAILY TIMEFRAME UPDATE

I’m currently analyzing the daily chart for #ETH, and I see that #Ethereum price has been consolidating within a range of $2,112 to $2,815, moving sideways in this area.

What’s next after this consolidation? 🤔

Typically, after a period of consolidation, we expect a phase of expansion. So, following this consolidation, there's a strong possibility for a significant upward move. 📈

I’ve already taken a spot position in ETH, expecting a breakout to the upside. However, this analysis is based on a higher time frame, so patience is key—it may take some time before we see a major move.

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#ETHUSDT | DAILY TIMEFRAME UPDATE

In my last analysis of #ETH, I mentioned that after every consolidation, we typically see an expansion to the upside. And as expected, #Ethereum surged over 25% without any leverage!

So, what’s next for #ETH? 🤔

Currently, #ETH is trading at $3,050, and since today is Saturday, I wouldn’t recommend buying at this level or on this day. Instead, we should wait for the next weekly candle to open. From there, we can watch for a potential retracement, which could present a better entry point for a buy position.