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$ETH 12.05 Friday Daytime Consolidation
The market will continue to consolidate during the day. The likelihood of a breakout in either direction is low, as the market has already priced in much of the upcoming news.
After Monday’s sharp drop due to Japan’s interest rate hike, the market has been climbing steadily since the early hours of the next day, reaching yesterday’s high near 3240.
Yesterday, the market fluctuated between 3150 and 3230 during the day.
After three consecutive days of gains, today is expected to continue consolidating.
The consolidation range is between 3050 and 3230.
You can consider swing trading near the range boundaries.