ETHEREUM Sideways Trading Likely To See Breakout Soon -- Predictions Favoring The Bulls

It's been an extremely boring week for market movements. Unfortunately I haven't had a whole ton to analyze for you all, but I think we're finally going to be coming up on a point where we should see some movement.

We're getting a lot tighter into consolidation after days of sideways trading. We recently saw eight bear volume days including the biggest volume bar we've seen in a while (of course, bearish) and even after all of that bear action and pressure, we still only saw the price slip less than $20. I'm thinking this is an extremely good sign as it likely means a lot of the bears are tiring and giving up trying to break through bull defenses.

Looking at some other indicators, we can see ETH being held up nicely and finding support near the EMA ribbon. This in combination with the supports at $595 and $580 (the must-hold), so There's a lot to hold here. Bear volume has also been on the steady decline.

The sideways trading on lack of volumes lately mean that when we do see some actual movement and volume come in, we will likely see a lot of volatility and movement in either direction.

Overall, I'm predicting the bulls take this one. The bears have just been fighting so hard and we haven't seen them make any damage. It will likely be time for them to settle and take a break and have the bulls step in to control the market for a bit.

It's very possible if we see the bulls pull through that we could be looking at a pattern as seen in the chart above. This would likely carry us through July and push us to prices in the upper $800's. We definitely need the bulls to take control here though. If the bulls give up, we will likely see the pattern play out, but in the opposite direction flipped along the x-axis.