Recent data reveals that 50% of Ethereum's trading volume over the past six months has been concentrated between $1,907.03 and $2,351.66, with the Point of Control (POC) at $2,060.94. Currently, ETH is trading within this range and above the POC, suggesting the POC has become a psychological support level.
The short-term bullish outlook for ETH remains intact as long as prices stay above the POC. However, a break below this level on increased volume could negate the bullish trend. The "Volume Distribution" feature provides insights into the POC's evolution across different timeframes, aiding in the assessment of support strength.
ETH Trading Volume Concentrated Between $1,907 and $2,352
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