Ethereum has started a violent rise from the support level of 2470 I analyzed in my last premonition yesterday. The current focus is on the resistance level of 2560, but today I only want to trade Bitcoin. Stay tuned for updates. #ETH

Once hailed as the king of public chains, ETH was referred to as the rich man's chain in 2021 due to its high miner fees and a plethora of wealth-generating tokens. In 2023, it was replaced by BRC20, and in 2024, it was replaced by SOL. The tides have turned; now, numerous meme coins on the SOL chain have evidently completely replaced ETH.

The weak ETH is now even inferior to SOL, with 2550–2560 being its current short-term resistance ceiling. There are only two approaches to dealing with ETH👇:

First: If it retraces to the extreme support around 2400, observe the support situation, aligning with expectations for a low buy. The small short-term support is around 2470, but we need to see if it can hold up when we wake up tomorrow, Monday. If it falls below 2380, it will be heading to zero.

Second: A strong breakout above the 2550–2560 ceiling would indicate a reversal for ETH; we'll discuss it once the price reaches that point. #ETH