Ethereum Holds Stronger Support Than Expected: Here’s Marzell’s Market Breakdown

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• Ethereum shows strength with solid support at $1,800 in a volatile market.
• High-volume sessions drive price spikes higher, with highs of $1,875 during active trading.
• Consolidation phases exhibit steady upward pressure as the price increases from $1,830 to $1,865.

Ethereum’s price action recorded multiple phases of upward and downward trends throughout the latest trading session. Candlestick charts displayed precise data on price fluctuations, trading volume, and interval-specific performance.

Price Movements and Volume Activity

The chart shows consistent price movements, including bullish, bearish, and consolidation phases within hourly intervals. Trading activity remained robust, with high-volume sessions driving notable price changes. Breakout patterns emerged during specific intervals, reflecting aggressive market participation and fluctuating sentiment.

According to market analyst Marzell, Ethereum demonstrated stronger-than-expected support throughout the trading session. Data shows the first interval opened at $1,800, with a high of $1,850. The session closed at $1,840 after reaching a low of $1,780, with a volume of 4,200 ETH.

Source: Marzell

Shifts Between Bullish and Bearish Phases

Later levels were uniformly in an uptrend, with prices moving higher to $1,860 from $1,840 opening. Traded volume dropped to 3,800 ETH, reflecting lukewarm participation. Another session registered a drop from $1,850 to close at $1,830 with volume slightly inching higher to 5,000 ETH.

Marzell’s observation reveals extreme oscillations, for instance, a high price of $1,875 in a session with a volume of 5,200 ETH. Price retracement followed, and during certain times, the lows were $1,820 and $1,825. Data reveals profit-taking at the end of sharp price rises in some instances.

Consolidation and Market Stability

The timespan shows large price gaps and consolidation periods between the bearish and bullish periods. A few intervals witnessed renewed upward pressure, with prices going up from $1,830 to $1,865. Volumes of 4,500 ETH were smaller during these increases.

Final sessions logged mid-range fluctuations with highs of $1,860 and lows of $1,835. The last interval closed at $1,845, registering consistent trading activity. The overall chart reflects stable data points, which confirm Ethereum’s dynamic activity in the trading day.

Original Article