Will Ethereum have a large fluctuation and increase? Can the copycat follow suit?
1. The formation of a huge chip vacuum zone
After a huge drop of 8.5, ETH proved that there is a huge chip vacuum zone between 3350 and 2150;
There is no strong consensus on the price in this range, nor is there a dense turnover of chips, which is easy to produce huge fluctuations. In other words, there is no support when it falls and no resistance when it rises.
2. The market value is halved, and the cost of pulling up is close to the second echelon
After more than 50 days of decline, the market value of ETH has been nearly halved. The double plunge in liquidity and coin prices is more conducive to the large capital participants of ETH in the market to collect low-priced chips, increase the concentration of ETH chips, and reduce the selling pressure resistance during the pull-up process;
The current market value of ETH is about 300 billion u, which has further narrowed the gap with BNB and SOL;
We can refer to the fluctuation range of BNB after it plummeted to 200 last year and soared to 721 in the first half of this year.
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III. Summary
Projects with many strong financial participation often have strong space and willingness for reverse fluctuations after experiencing FUD. The current situation of ETH is extremely similar to that of BNB at 200. We have reason to believe that ETH will most likely rise with super volatility as BTC breaks through.
