Ethereum, which has been weak for so long, finally stood up today. Is it time to be proud of it⚠️❗️❗️
BTC has fallen so much today, but I didn’t expect ETH to fall so little, basically within 100 points. The buying is really fierce, and it seems that there is a strong dealer.
Since the launch of ETH ETF, it can be said that the price has been getting worse day by day. It has been subjected to the ruthless selling pressure of Grayscale and has not been able to reach a new high for a long time. It took a lot of effort to break the 4,000 mark. Fortunately, this wave fell to $2,100, and big whales began to buy Ethereum at the bottom. Recently, the Ethereum spot ETF has been flowing in, which is in sharp contrast to the outflow of the spot BTC ETF.
The price of Ethereum has just touched the rising trend line of 2540. The current price has successfully rebounded to 2580. This is very important for Ethereum. If it is directly penetrated, it is equivalent to flooding, and the price may go to around $2,300.
At present, according to the ETH 1-hour chart, KDJ has formed a golden cross at a low level, and it is near the rising trend line. Then there should be a rebound here. If the rebound cannot break 2630, the price will continue to fall.
Looking at the ETH 4-hour chart, a very standard M top is formed. This pattern is a very strong bearish pattern. Carefully observe this wave of rebound. If it can stand on 2630 again, it means that this wave of decline has temporarily reached another stage. The price may continue to pull to around 2758, but according to the current trend, it is likely to be led by BTC.
