Ethereum ETF passed and started trading. Will the news from Mentougou affect the rise of Ethereum?
Yesterday, the U.S. Securities and Exchange Commission approved the application of 9 Ethereum spot ETFs.
Today, the first batch of Ethereum spot ETFs began trading.
This is a historic moment, which will inject a lot of funds into the Ethereum market and enhance the liquidity of the Ethereum market. In the future, the price of Ethereum will definitely rise as a result.
Many voices say that the news of Mentougou's compensation may trigger a market decline. But Mentougou paid Bitcoin, what does it have to do with the rise of Ethereum?
This can be seen from the performance of the market today. Bitcoin is falling, while Ethereum keeps rising.
At present, the signal of Ethereum's rise and breakthrough has been issued. If you want to make a short-term buying plan for Ethereum, how to control the risk?
I suggest buying in the 3440-3480 area. Of course, you can also buy a part of it at the current price as a head position. This is based on the signal of Ethereum's breakthrough to build a position. It is a short-term transaction with a stop loss position of 3320.
Of course, I still recommend long-term investment and long-term buying. After the Bitcoin spot ETF was approved, it took a month of price fluctuations before it really rose. Although it requires patience to make a profit, the risk is much smaller than short-term trading.