How much can Ethereum be used to buy the bottom?

ETH is currently at a low price, but there is no chance of independence at present, and it follows the impact of the decline of the big cake. It fell from the highest point of 3050 to 2880, a drop of 160 points, which is a plunge for contract parties. In the absence of fundamental negatives, bulls suffered heavy losses. The current price is around 2900, and the rebound momentum is insufficient.

From the daily chart, Ethereum has fallen for two consecutive months, with a drop of 30%. If it is assumed that the bull market has not ended, this adjustment time and amplitude are sufficient. But market sentiment continues to be sluggish, and the market will only reverse when the wash is thorough. The most stable strategy is to continue to deploy spot in the medium and long term.

The exchange rate continues to fall slightly and is currently running below 0.048. The overall exchange rate has entered the demand zone, and the market expects Ethereum to bottom out and rebound, but it requires a large amount of trading volume. Medium- and short-term transactions are difficult.

At present, the upper short-term resistance focuses on 3000 and 3140, and the lower short-term support focuses on 2880 and 2800. Operationally, it has effectively fallen below 3,000, and the trend remains weak. The risk of waiting for strength before entering the market is more controllable, and you can chase more after breaking through 3,000. At the same time, pay attention to the opportunity to buy low in the 2850-2880 area.

News reference: Analysts say that the lack of meaningful interaction with potential issuers and the vague regulatory status of Ethereum mean that the spot Ethereum ETF may not appear until the end of 2025. Faced with rejection, potential ETF issuers such as BlackRock, Fidelity or Ark Invest have two options: either sue the SEC as Grayscale did with the Bitcoin spot ETF, or file again later.

Influencing factors include the US election. If Trump wins a second term in the White House, the SEC may face a change in leadership. The new chairman may be more friendly to cryptocurrencies than Gary Gensler. If there is a new president, you submit your application again, and maybe you will be approved. Or you sue. In any case, it will take a full year to achieve.