Ethereum: Consolidation Continues — Bulls Still Have the EdgeEthereum / TetherUSBINANCE:ETHUSDTDukesMarketAnalysisSecond Ethereum chart of the day, this time dropping down to the 4-hour to take a closer look at the shorter-term picture. A Week of Sideways Price Action Ethereum has spent roughly the past week consolidating between $2,400 and $2,540. Despite several attempts in both directions, neither bulls nor bears have been able to take control. Preceding Move Favours the Bulls Importantly, ETH entered this range following a powerful move to the upside. That keeps the odds tilted towards eventual upside continuation, although price still needs to confirm that by breaking the range. Resistance Continues to Frustrate The $2,540 area has repeatedly rejected price, with the latest attempt reaching $2,534.98 before sellers stepped back in. A convincing break above this zone would be the clearest signal that the next leg higher may be underway. EMAs Keep the Structure Constructive Price continues to hold above the bullishly crossed 100/50-Period EMAs. The averages are also rising beneath price, keeping the shorter-term technical picture constructive. Momentum Remains Neutral RSI continues to hover around the 50 level, while StochRSI is mid-ranging and volume remains relatively neutral. That fits with the sideways price action and suggests neither side currently has meaningful momentum. In Summary Ethereum has spent roughly the past week consolidating between $2,400 and $2,540, but the underlying picture continues to favour the bulls. The preceding move was strongly to the upside, while price remains above the bullishly crossed 100/50-Period EMAs. Momentum is currently neutral, which is hardly surprising during consolidation. A convincing break above $2,540 would be the clearest indication that ETH is ready to begin its next leg higher.