The market has once again reached the critical support zone of Ethereum at 3500, just as it did during the last rebound.
Those with large positions in ENA and USUAL are the luckiest, while those with large positions in MEME are suffering greatly. The recent discussions about the meme sector need to wait; the washout of PNUT and NEIRO has been very harsh, but a rebound and higher prices will follow.
Yesterday, Powell stated that the Federal Reserve is not allowed to hold Bitcoin, and 794.7 Bitcoin ETFs exited the market, along with 20,100 Ethereum ETFs.
This data reflects the market's washout strength, as traders have thoroughly cleared out those wanting to exit and those facing liquidation during this deep washout period.
After the washout ends, a price surge is imminent, possibly as soon as this weekend, or next week at the latest.
Altcoins have generally plummeted over 10%. Many altcoins are nearing their bottoms, presenting significant opportunities.
Focus should be on the leading coins in popular sectors, selecting coins with bottom support, and avoiding blind chasing of rising prices.
The leading coin in the artificial intelligence sector, FET, has spiked to 1.34, close to the bottom at the end of November;
WLD spiked to 2.26, near the mid-November bottom;
The leading coin in the metaverse sector, SAND, has pulled back to around 0.6, with important support at 0.57;
Additionally, GALA, EOS, and the people in the meme sector are also worth paying attention to.
For more details, feel free to communicate!
