Four hints that Ethereum is about to usher in a big market!
Since the beginning of this year, the price of Ethereum has not broken through a new high, which means that under the current market conditions, its price is in a relatively stable range and is a good entry opportunity.
Healthy pullback
As can be seen from the chart, Ethereum's latest pullback was very healthy, and it rebounded quickly after accurately hitting the 0.618 position of the Fibonacci retracement line. The overall market consensus on the price of Ethereum is very strong, showing investors' confidence in its future trend.
ETF expectations and market holdings
Although the approval of the Ethereum ETF has been delayed, the market's expectations for the final approval of the SEC remain high. At present, major investors are also increasing their holdings, including Justin Sun. From the last decline, Ethereum fell to $2,800 at its lowest, and there was no large-scale selling. The Mentougou incident affected Bitcoin, and Ethereum just followed the decline.
Short-term support position
In the short term, Ethereum at 2890 is the key point for the exchange of short-term resistance and support. Ethereum below $3,000 can be laid out. After passing this position, it is very likely that there will be a similar rebound as on May 20.
In summary, Ethereum shows strong potential and stability in the current market. Whether it is the callback of the technical chart, the strong market consensus, or the behavior of the main force to increase holdings, it shows that Ethereum is an investment target worthy of attention. Investors should seize the opportunity and are expected to get rich returns in future market fluctuations.
