Ethereum Technical Analysis: ETH/USD lack of volatility indicates an explosive move to $250 or $220 is nearby


  • ETH/USD is currently trading at $239.67 staying flat.
  • Ethereum price has been lacking volatility for the past week.

The second-largest cryptocurrency is not doing much, trading between $235 and $245 for the past six days. Ethereum price peaked at $248.98 on July 8 after a significant bull move, however, bulls have been unable to resume the positive sentiment and create a new leg up.

ETH/USD daily chart

ETHUSD

Clearly, not a lot is going on with Ethereum. The lack of volatility indicates that a big move is going to happen soon. It’s hard to really predict which direction Ethereum will take as the recent daily uptrend is not strong enough to really give an edge to the bulls.

At the same time, Ethereum has been far stronger than the rest and a bearish breakout is not that likely either

 

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