A recent technical analysis shared on X by crypto analyst Merlijn The Trader presents Ethereum’s price action on the 2-day candlestick chart as a textbook example of Wyckoff accumulation. In his assessment, Ethereum has already moved through several key stages of the model and is now approaching a powerful expansion phase, provided the structure stays intact. Related Reading: American Bitcoin Makes Big Buy, Adds 416 BTC To Its Stack Wyckoff Accumulation Structure Taking Shape On Ethereum Chart Over the past several days, Ethereum has traded between roughly $3,050 and $3,400, repeatedly failing to secure a sustained move beyond either boundary. At the time of writing, Ethereum’s price action is trading around $3,100
source: https://www.newsbtc.com/altcoin/ethereum-forms-wyckoff-breakout-setup-10000-price-target-back-in-focus/