After studying the trend of ETH, it is very similar to the wave of 519 in 21 years. It has formed an obvious descending triangle. Almost everyone in the market is bearish. It is a trend that even the newcomers feel is going to fall. The high point is gradually lowering, and there is a parallel bottom below. It feels like it will break at any time.

I have always had a concept that only a small number of people in the market can make money. At present, basically everyone believes that it will continue to fall, and the price will at least fall back to around 2400. Then we will continue to observe and see if the market will be the same as everyone's expectations.

On the 23rd of this month, it will be announced whether the ETH ETF has been approved. It is very likely that the market will start to have a lot of false information disrupting the market like the approval of BTCETF, but we must understand that the ETF will eventually be approved, and if it is approved, a large amount of funds will flow into ETH.