Ethereum's volatility maintained its positive momentum

Ethereum's volatility maintained its positive momentum the previous day, and we still see higher tops and bottoms forming in the 1h timeframe. Also, we can consider a narrow ascending channel in this time frame. Ethereum's main supply levels and ranges where a strong negative reaction is expected are at $1700 and the $1800 channel. Therefore, if Ethereum hits these ranges, the probability of a negative reaction and the price entering a corrective wave will increase. As long as the support of the $1,520-$1,535 range at the bottom of the short-term channel is not broken, Ethereum's upward movement can continue. Another thing to note is that there have been a few reactionary hits to the $1,600 resistance, so if this resistance is broken, it needs to be confirmed, and we should closely monitor trading volume.