Ethereum's daily line is a long real body big Yin line, the trading volume is much less than the previous day, but it is basically the same as the previous few days. The price has returned to the daily MA30 line. There is support here, so there will be a rebound.

Many people have questions. Why did the Ethereum ETF have funds flowing in after it started trading on the 23rd, but the price was falling?

1. The news of Ethereum ETF is clear news. A large number of institutions and funds are buying a lot in the 2800-3000 area. These are short-term funds. The profit-taking caused the price to fall.

2. Grayscale Ethereum Fund is also constantly flowing out, and it will take some time to digest.

3. At present, the market is still a contract-dominated market. Institutions will adopt hedging strategies to deal with possible market situations. A large number of contracts have also become resistance to price increases.

4. Chip turnover is a good thing. After the chips are changed, Ethereum will definitely stand up again.

Pressure level 3500, support level 3200