Thoughts on ETH's current compression and potential catalysts?
asked by u/irina.stoica · 1d · 1 answers
Watching $ETH's price action over the past few weeks. It's been range-bound, tightening considerably. Volume profiles suggest accumulation/distribution in flux. With BTC holding relatively steady, the question is what triggers the next significant move for ETH.
Considering the upcoming Dencun upgrade and its implications for L2s, there's a fundamental narrative. However, price hasn't reacted strongly yet. On-chain metrics like exchange flows and stablecoin dominance are also mixed.
From a technical perspective, we're building a clear symmetrical triangle on the daily. A break either way could be significant. What are others' takes on potential catalysts, or is this just continued consolidation until broader market sentiment shifts?