🚀 Ethereum is about to have a big market! Four major signals suggest that it is about to explode! 🚀
1️⃣ No new highs this year
Ethereum has not broken new highs this year, which means that it is in a relatively stable range under current market conditions, and it is a good opportunity to enter the market.
2️⃣ Healthy pullback
From the chart, Ethereum's latest pullback is very healthy. It hit the 0.618 position of the Fibonacci retracement line accurately and rebounded quickly. The market has a very strong consensus on the price of Ethereum, showing investors' confidence in its future trend.
3️⃣ ETF expectations and market holdings
Although the approval of the Ethereum ETF has been delayed, the market's expectations for the final approval of the SEC are still high. Major investors such as Justin Sun are increasing their holdings. Even in the last big drop, when Ethereum fell to a low of $2,800, there was no large-scale selling. The Mentougou incident affected Bitcoin, and Ethereum just followed the decline.
4️⃣ Short-term support position
In the short term, Ethereum is at a key support level of $2,890. Ethereum below $3,000 is a good opportunity to invest. Once it breaks through this position, a rebound similar to that on May 20 may occur again.
In summary, Ethereum has shown strong potential and stability in the current market. Whether it is the callback of the technical chart, the strong market consensus, or the behavior of the main force to increase holdings, it shows that Ethereum is an investment target worthy of attention. Seize the opportunity and expect to get rich returns in future market fluctuations!
