The recent price trend of Ethereum has shown a complex and interesting technical pattern. Over the past two months, Ethereum has undergone a large consolidation range lasting 60 days, which has provided important observation opportunities for market participants.

In this large consolidation range, we can identify several key price action characteristics. First, there was a false breakout above the range, while below it formed a structure that could be seen as a bear trap or a shakeout. This bidirectional price movement indicates that market participants are looking for a directional breakout.

It is worth noting that during this significant consolidation process, Ethereum also experienced a small consolidation period of 8 days, which may indicate that the market is searching for a new equilibrium point. Generally speaking, after the oscillation ends, the market often goes through a consolidation phase before moving upwards. This pattern suggests that the overall structure may lean towards a bullish sentiment.

Currently, Ethereum seems to have broken through the high consolidation area, which is more positive than Bitcoin's performance. This relative strength may indicate that Ethereum could continue to lead the market in the short term.

From a technical analysis perspective, the horizontal range of a major consolidation zone usually corresponds to the potential vertical volatility that may follow. Therefore, if Ethereum can break through the two key price levels of 2735 and 2880, we may witness a significant trending market.

However, investors and traders must remain cautious and closely monitor market changes. While technical analysis provides valuable insights, the high volatility of the cryptocurrency market means that situations can change at any moment. Before making any investment decisions, it is essential to conduct thorough research and risk assessment.