The article discusses the current price movement and consolidation phase of Ethereum (ETH). ETH is trading within a narrow range between the 100-day moving average at $3.2K and the resistance zone at $3.5K. The article suggests that this consolidation, along with increased volatility, indicates an imminent breakout and the potential for a new trend. A successful breakout above $3.5K could trigger a sustained bullish rally, while a failure to break this level may result in a bearish downturn. The article also mentions the importance of monitoring the leverage ratio, as the growing appetite for high-leverage positions in the derivatives market could lead to sharp price swings. Overall, a bullish breakout is seen as the most likely outcome, but caution is advised due to the potential for unexpected volatility.



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