![Ethereum [ETH] rises above $1,210 but is a year-end rally on the cards](https://i.headtopics.com/images/2022/12/25/cryptoamb/ethereum-eth-rises-above-1-210-but-is-a-year-end-r-ethereum-eth-rises-above-1-210-but-is-a-year-end-r-1607097598933966848.webp)
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion The technical indicators shed no light on the way forward for Ethereum With lower liquidity in the market, quick moves to trigger a mass of stop-loss orders before a short-term reversal are possible Ethereum […]
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionWith lower liquidity in the market, quick moves to trigger a mass of stop-loss orders before a short-term reversal are possiblewitnessed very low volatility in the past few days. Since 20 December the price stuck to the $1,213 mark. This can be attributed to the holiday season.
also experiencing a muted period of sideways trading, what direction will the trend be when one emerges?Source: ETH/USDT on TradingView The market structure shifted to a bullish bias on lower timeframes when ETH rise from $1,160 and was able to rise above the $1,190 mark over the past week. However, the trading volume and the volatility have been quite low in recent days. This meant that the price could see a large deviation north or south in search of liquidity before a quick reversal.
This can go either way. ETH could rise to tag the H12 breaker at $1250 before plunging to $1160 once more. The reverse was also equally likely. Therefore a trader can wait for a trend to establish itself. The Relative Strength Index has been close to the neutral 50 mark in recent days to indicate momentum favored neither the buyers nor the sellers.The Fibonacci retracement levels plotted were also important. In the next few days, a move above the 38.2% level or below the 61.
The weighted sentiment also shot higher recently, but there was no notable response from the price yet. In the past, a rising sentiment was not necessarily bullish for the price either. Instead, traders can be wary of a strong surge in the MVRV ratio as it can signal holders are ready to take profits.Subscribe to get it daily in your inbox.
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