Ethereum's Recent Performance is Weak: Trend Different from Market Rally
Since the beginning of this year, Ethereum (ETH) has consistently underperformed while the overall market has been rising. In yesterday's rally, Ethereum quickly fell back after dropping to around $3160, and at one point in the early morning, it dropped to $3031, indicating a bearish trend that has clearly broken the market's upward rhythm.
Entry Point: Consider entering long positions when the price retraces to the $3000-3030 range. Stop Loss Position: Set the stop loss below $2970. Target Price: The short-term target is around $3070-3100.
If the price breaks through the target, it can be held until around $3120-3150. Mid-term Target: Further pay attention to the phased targets of $3200, $3250, $3300, $3350, $3400, and $3450.
