Ethereum hasn't seen a particularly large increase since the ETF, unlike Bitcoin, which has been impressive, but recently the Ethereum ETF has been seeing continuous growth! (See image above)
From the news side, we can also see that the net inflow of ETFs increased yesterday (13th), and according to the latest official data from BlackRock, as of December 12, the Ethereum exchange-traded fund iShares Ethereum Trust ETF had a holding of 981,155.3661 ETH, with a holding market value of $3,809,904,779.02. The holdings of these big players represent the trend in the crypto space, which is bullish. Therefore, our ongoing strategy of buying on dips may lead to a new trend next week. This is the news aspect; let's now look at the chart for signals 📶.
On the weekly chart of Ethereum, we can see the area highlighted in yellow; Ethereum has attempted to break this price three times without success, and the current price has returned to the yellow box to attempt a breakout again.
The MACD lines below are both around the midline, and the green momentum bars are gradually increasing, which is bullish.
Let's switch to the daily chart to take a look
On the daily chart, we can see that Ethereum has recently been consolidating within the yellow box, and after a pullback to the 20-day moving average, it has started to rise again.
The moving averages are also in a bullish divergence state, which is bullish.
On the daily MACD, we can see the death cross above is narrowing, and the red momentum bars are gradually weakening, which is bullish.
The RSI below is also narrowing but still above the midline, which is bullish.
One point to note ⚠️: The main funds take a break on weekends, and retail funds dominate, so everyone should be cautious of false breakouts. Although the market is bullish, we should also be wary of pullbacks.
Everyone can add positions on dips:
Add position 1: At the first support level near the yellow 20-day moving average, around $3800.
Add position 2: Near the second support level, around $3550.
Add position at around $3380.
Finally, I still recommend everyone to cherish the Ethereum starting with 3; hold on during the bull market and don't get off easily.
Love you all ❤️
$ETH (Spot)
$ETH (Contract)
