For the past couple of months, Ethereum has been retesting the previous all time high resistance and was actually not able to break it. However, following the rising channel pattern, the bullish break and retest and price action, the breakout is about to happen.
Ethereum is slowly starting to shift back to a bullish environment on the smaller timeframes, indicating a potential shift in momentum which would then be followed by an all time high breakout. It is quite likely that we will see a lot of volatility soon, shaking out all the weak hands.
It's just remarkable to see how cryptocurrencies perfectly respect market structure, even if we see Ethereum dropping about -30% just within a couple of minutes. But this turned out to be just a massive manipulation, perfectly retesting the lower confluence of support
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