Wyckoff Analysis of Ethereum (ETH) on the 1-Hour Timeframe:

1. Phase A – Stopping the Downtrend:

Selling Climax (SC): ETH reached an intraday low of $1,864, indicating strong selling pressure being absorbed by buyers.

Automatic Rally (AR): After the SC, the price rebounded to an intraday high of $2,015, showing initial buying interest.

Secondary Test (ST): The price retested the $1,864 level, confirming support near the SC.

2. Phase B – Accumulation:

ETH traded sideways between $1,864 and $2,015, suggesting accumulation by institutional investors.

Volume declined during this phase, indicating reduced selling pressure.

3. Phase C – Spring (Shakeout):

A potential "spring" could occur if ETH briefly dips below $1,864 to test support and eliminate weak holders before a rapid recovery.

4. Phase D – Signs of Strength (SOS):

A decisive move above $2,015 with increased volume would signal strength and the potential start of an uptrend.

5. Phase E – Markup (Trend Confirmation):

If ETH holds above $2,015, it could enter a markup phase, targeting higher resistance levels.

Note: This analysis is based on the Wyckoff Method and recent price action. Market conditions can change rapidly, so it’s essential to use additional tools and stay updated with the latest news for informed trading decisions.

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