Ethereum (ETH) volume close to zero, but there are decisive details

Ethereum, the cryptocurrency with the second largest market capitalization, will enter into a state of disused silence. The diagram shows the inertia caused by the broader price campaign, although the asset is still above the most important short -term average values. The ETH is currently about $ 1,825 and has difficulty breaking up the local level of resistance.

Ethereum’s volume profile is the most obvious concern. In the past few weeks, the daily trade volume has dropped drastically and is currently near historical lows. From this volume, it collapses that market participants are not safe and that neither bulls nor bears are responsible. A market that waits for a catalyst and runs the dynamics is displayed by this classic signal.

The volatility has also collapsed. There are no signs of overbought or oversized conditions, and the relative strength index (RSI) is currently in a neutral area just under 60. This is in line with the side price movement that ETH has shown since mid -April. ETH has difficulty maintaining any kind of long-term breakout dynamics, whereby the 50 EMA floats just above the current price level.

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Nevertheless, this silence could be misleading. Something below a decisive psychological level of 1,900 to 2,000 US dollars consolidates Ethereum. Consolidation times like this often proceed abruptly. The lack of a buying volume undermines the bullish case, but the current setup leaves the possibility of an abrupt reversal.

The upward potential of Ethereum is limited unless there is macroeconomic catalysts or an increase in the activity of on chains. In the meantime, a decline among the 50 EMA (~ 1,765 USD) would probably trigger a new round of sales, which the ETH pushes back to $ 1,600. The next important spike could determine the course of the subsequent leg, so that investors should monitor the volume exactly.