#ETHTrendWatch

Ethereum's recent recovery has caught the attention of institutional and large investors, with many major investors moving ETH to exchanges following the rally. This volatility followed ETH's sharp rise after the Bank of Japan's 25 basis point interest rate hike.

This behavior raised questions about whether major players expect a decline in the short term or if they are simply reallocating their capital after realizing profits.
With the continuation of the trend pressure, the range is narrowing, and technical analysis on the daily chart revealed that ETH is consolidating in a narrow range between $2,790 and $3,000. Meanwhile, the overall market structure continues to remain in a downward trend.
Looking at the price movements, it seems that a significant rise in ETH would only be possible if it breaks out of this narrow consolidation range.
If the general trend continues and the price falls below the level of $2,790, closing below this level on the daily candlestick chart, a strong downward momentum may be triggered.

On the other hand, if the trend changes and the altcoin closes the daily candlestick chart above the $3,000 level, this could be a signal that the long-standing downward momentum has come to an end.

In addition to these important levels, the Average Directional Index momentum strength indicator (ADX) has reached 30.39, above the significant threshold of 25, indicating a strong directional trend in the asset.
Meanwhile, the Chaikin Money Flow (CMF) index further strengthened the downward trend by falling to -0.05, indicating increased selling pressure and capital outflow from the asset.
Final Thoughts
The recent recovery of Ethereum has drawn attention more in terms of positioning rather than belief.
Whale transfers and increasing leverage have brought ETH to a turning point, indicating that caution is needed beneath the surface.
$ETH ‌