ETH has pulled back nearly half from its high, which translates to about 20% in percentage. The current daily level adjustment is nearing its end, and a solid support needs to be built in the 3200 - 3300 range.
Once a 'spike rebound' phenomenon occurs in this range, the worries of further declines in the market will dissipate.
Looking upward, the 3500 - 3600 range forms a strong resistance zone.
At this critical juncture, whether ETH can gain momentum, break through 3800 points, and stabilize will be the 'deciding factor' for whether the market can experience a widespread rally. If dreams come true, altcoins will likely see a surge of at least 50%.
At that time, don’t forget to clear out those 'underperforming' junk coins in your portfolio.
