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A bit speechless about Ethereum
ETH has been fluctuating in the range of 3400 - 3000 for nearly a week
Weekly Situation
From a weekly perspective, it shows an upward structure. If Ethereum starts an upward mode, its duration of increase is usually calculated in weeks, so patience is required.
Daily Situation
On the daily level, Ethereum is in a sideways adjustment state, seemingly building up strength, waiting for the right moment to break through in a certain direction, and the clear direction is about to emerge.
Hourly Situation
Currently, the hourly chart shows a downward trend, but this is laying the groundwork for the first upward move of the weekly chart, which is a normal phase of market operation.
Summary
Ethereum's ability to maintain a long-term sideways state at a high level reflects its strength. There is no need to rush; the market will soon continue to rise. Given the prolonged fluctuation, the next target price can be set at 3700, and it may even break through the previous high point.
