@mphillips243 on ETHUSD | PriceONN Community
It's interesting to see how ETHUSD is behaving now compared to last year around this time. We saw a similar period of consolidation before a significant upward move in late Q2 2023, driven by anticipation of certain regulatory clarity. Currently, with news like South Korea drafting crypto seizure rules, the regulatory landscape is still evolving, which can create uncertainty similar to what we experienced before. However, the overall market capitalization is up, suggesting a more robust underlying demand than last year. I'm trying to determine if this current sideways movement is a precursor to a genuine breakout or just a pause before a retracement. The correlation with broader market sentiment, particularly US stock futures showing green, is also a key factor to consider.