ETH is slightly stronger today, reaching a high of 3294 during the day, breaking through the previous high of 3235 and forming a new high. In the short term, the big cake fell back. It can be seen that the decline of ether is not strong, and the altcoin has been silent for a long time. After the big cake stabilizes the key point, if the main force of ether can exert its strength, the altcoin is expected to usher in a wave of rebound. Focus on whether 3200 can stand.
At present, the big cake can no longer be used as a weather vane for the strength of the currency circle, because the current trend is basically controlled by the US ETF, and the traffic brought by the ETF cannot be allocated to the altcoin. Therefore, it is often seen that the big cake rises, the altcoin does not rise, the big cake falls slightly, and the altcoin falls sharply. Only when ether strengthens, the currency circle will usher in a real recovery. Today, the overall trend of ether is stronger than that of the big cake, and the meme sector has also ushered in a considerable rebound. Continue to pay attention to the strengthening of ether in the future.
In terms of exchange rate, it rose by about 1.5% today, from ETH/BTC From the perspective of the hourly level of trading pairs, it has been steadily climbing, indicating that the main force has begun to take action. From the major currency news channels, we can see that the whales have absorbed a lot of chips in the previous wave of decline. The current position of Ethereum is relatively low in the medium and long term, and the certainty of the layout of spot is higher. If it can continue to strengthen and break through 0.05, you can consider going long on the exchange rate.
At the current point, the short-term focus below is 3200 3000,
The short-term resistance above is 3300 3400
In terms of operation, the short-term linkage with the big cake decline, if Ethereum falls back to around 3200-3230, the medium-term long orders will be arranged at lows, and the breakthrough idea will be adopted. If the volume breaks through 3300, you can also follow the trend to chase more #ETH $ETH
LIVEIn the current market, there is no new narrative in the currency circle, and it is difficult to have an independent market, so Bitcoin often follows the decline but not the rise. Although ETFs have brought new demand, it is only for Bitcoin. Therefore, even if Bitcoin has run to around 67,000, the altcoin is still very weak, and it is still almost halved from the high point. To solve this problem, it may be necessary to wait until the Federal Reserve starts to cut interest rates and new liquidity comes in, and the currency circle may start the altcoin season.
In terms of exchange rate, the lowest point during the day was around 0.0475, and the maximum decline was close to 2%, and has now recovered to 0.0485. This means that if the main force does not take action, the current demand for Bitcoin in the currency circle will continue to exist. It is difficult for the copycat to keep up with the increase in Bitcoin, but the copycat has come to a more cost-effective range. After the main force makes a profit in Bitcoin, the next step will be to make a market in the copycat. Just hold the spot patiently.
At the current point, the short-term focus below is 3147 3000,
The short-term resistance above is 3280 3400
In terms of operation, after stabilizing at 3200, don’t be afraid to chase high, just enter the market with the trend, and do a good job of risk control around 3200. The current market is more certain to chase the rise than to buy the bottom.