Daily ETH Update

With both ETH and BTC sitting close to all-time highs we are seeing a "quiet before the storm" scenario. Trading volume is low and few are willing to commit to new positions. Both buyers and sellers are poised, waiting for a clear signal that the market is going up or down. ETH is sitting comfortably above all lines of support and resistance except for the all-time high, and it's just a bees dick below that. We could see more sideways price action, however, I believe it's just a matter of time now before we see a break to the upside that takes us up into the $75K area. On-chain metrics and fundamentals are strong, and we are seeing a continual fall in the supply of available BTC and ETH on exchanged. I believe that this fundamental pressure is what will be what's needed to push prices through this last resistance and onto new higher levels.