Ethereum 2000 (ETH) is hovering around $2000, and the OP on the L2 network is facing a large unlock. Is it suitable to enter at $0.85?
Ethereum continues to maintain fluctuations around the $2000 position, which is particularly important for the current trends of altcoins. As a key player in the Ethereum L2 second-layer network, OP is still worth paying attention to from the market perspective.
Unlocking is not the only factor that determines price; the true determinants are the fundamentals, investors, project team, development roadmap, practical applications, and contributions to the industry, among others.
This is also why some coins not only do not drop after unlocking but instead rise. Investors aim for profits, and project teams and investors share this goal. When the price is below expectations and the project is progressing well, investors are not foolish enough to sell off during an unlock, nor would they do something as foolish as breaking the pot while eating from it.
Qualified investors do not engage in killing the goose that lays the golden eggs; they only do things that ensure the chicken lays eggs.
So do not fear the mindset that unlocking will lead to a significant drop.
Another important factor affecting price is the increase in trend background. We need to clearly understand whether we are in a bull market or a bear market. If we are in a bull market, then unlocking during a bull market may not necessarily be a negative factor.
Looking at the current stage of OP's market, the week of February 3 saw a candlestick with a long lower shadow, which appeared after a prolonged and sufficient decline, indicating that the support position below is very strong.
Although there was a subsequent inertia decline, the extent of the drop below the previous low was not large, and the bearish volume is gradually decreasing, indicating that the bearish force is weakening, which again validates the support below.
This suggests that this position is likely entering a new round of bottom consolidation.
This position is our entry timing for a medium-term trade.
#sui #OP