Ethereum has finally strengthened. During the process of Bitcoin pulling back from the 100,000 mark to 91,000, I felt the strength of Ethereum and its DeFi ecosystem. Last night's rebound directly broke through $3600, refreshing the high point of this round of market, while the exchange rate against BTC is also close to 0.038. Next, Ethereum needs to continue rising by several dozen points to break through the 4000 resistance point from March, ultimately aiming for the historical high of 4868 points. Although it is still quite far from this round's target of 10,000 points, everything is getting better. Once the arrow is released, there is no turning back; the main rising wave of Ethereum and DeFi is on the way.
For the steadfast supporters of Ethereum, reaching this stage has not been easy, especially for bullish players in terms of exchange rates, as there haven't been significant profits. However, since the FUD on Ethereum a few months ago, I have repeatedly recharged everyone's faith, even before this wave of price increase, I clearly mentioned the DeFi sector, hoping it helps. In investing, there are not many things that can accurately recognize value, and they can be swayed by price and market sentiment. However, if you truly have faith, you will find that your heart is relatively calm.
In terms of the overall market, even though Bitcoin has not yet reached a new high, market sentiment remains bullish, and I believe the overall trend is also leaning towards bullish. Another indicator worth referencing is SOL and Doge, one is used to gauge the sentiment of small-cap coins, while the other can be seen as the funding sentiment of American retail investors. Currently, neither of these has experienced a significant pullback. Overall, the market completed a phase adjustment when Bitcoin pulled back to 90791, and the current sideways movement is still accumulating power for an upward trend, with the main driving force for the upcoming rise being Ethereum.
Specifically regarding the DeFi sector, I have mentioned a lot, including major blue chips like MKR, AAVE, UNI, SNX, etc. However, I forgot about ENS. I had allocated this coin in an earlier round, but after selling it off in March, I didn't pay much attention to it, which is indeed a bit regrettable. However, the DeFi market is generally trending upward, including the second-layer representatives like ARB and OP. Although the extent may not be large, the certainty of an upward trend is quite high. Of course, I want to remind you that when second-layer projects like ZK, Stark, and Merl are rallying, it’s best not to participate. If there is, this linked upward movement is an opportunity to exit.
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