After ETH fell back to 3066, it remained strong and continued to move out of the independent market. Today, it reached a high of around 3340, and then was dragged down by Bitcoin. It is currently running around 3300. From the perspective of inflow and outflow, the current position has little selling pressure, and most of them are firm chips. The main force of Ethereum is unwilling to compromise with BTC again, leading the currency circle to start a new round of market.
The reason why Ethereum can strengthen is actually very simple. On the one hand, there is no continuous selling pressure from Grayscale, which leads to Bitcoin falling all the way once the purchasing power cannot keep up. On the other hand, the increase in this round of market is not large, and the profit-taking is insufficient. In addition, the weakness for a long time has fully washed the chips, and the whales have been adding positions. We have no reason to hand over the chips at this position. We hold them when they fall, and we hold them even more when they rise, waiting for the hype expectations of Ethereum ETF in May.
In terms of exchange rate, with the independent market of Ethereum, it continues to rise. Today, it has run to 0.052. The key point of strength and weakness we mentioned many times before is 0.05. If it breaks through this point, we will go long on the exchange rate. We have made a profit. 4%, our maximum expectation is more than 20%, so just hold on patiently. Once the main force starts to make the market, it will not stop easily.
At the current point, the short-term focus below is 3200 3000, and the short-term resistance above is 3420 3500
In terms of operation, Ethereum can run at the current point and is relatively strong overall. There is no supply of drawing gates. The upper side may test the short-term resistance of 3420. The idea of stabilization is that if it can stand firm at 3300, it can continue to enter the market and go long, with the target of 3400 3500