Ethereum Stuck in a Bear Trap, New ATH Above $5000 is on the Horizon

The crypto markets seem to have digested the bearish pressure as some of the tokens demonstrate strength. The Ethereum price remains accumulated within a narrow range, hinting at the possibility of an excess price compression. As a result, the bulls are unable to exert pressure, as it could fade quickly with the bears possessing a significant dominance. Therefore, the ETH price could be stuck in a bearish well, but from a wider perspective, the token has laid a bear trap, which could result in a 200% upswing in the next 3 to 6 months