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Ethereum trades in a tight range as volumes fall, flag pattern forms
ETH has been oscillating around $1,830 to $1,930, while trading volumes have dropped nearly 50% from a late-July peak of $14 billion, according to CoinMarketCap data cited by Yahoo Finance.
Ethereum is consolidating in recent days after a breakout attempt above $1,800, trading in a $1,830 to $1,930 range as volumes thin out, according to Yahoo Finance.
The outlet points to CoinMarketCap data showing trading volumes have fallen by nearly 50% versus a late-July peak near $14 billion, a move it links to stalled momentum and a market that is not committing to a new direction.
Yahoo Finance also describes the current price structure as a flag pattern that typically reflects brief consolidation before the prior trend resumes, but it says sentiment remains near neutral, with the Crypto Fear and Greed Index around 40.
On the upside, the piece says ETH could target at least $2,500 if bulls push above the flag's upper level near $1,930, while it adds that waning interest and a macro backdrop tied to expectations of an upcoming interest rate hike have limited bullish catalysts.
Latest closeEthereum $1,901.46 ▼0.0%