1. Current Status of ETH and Altcoins👀

Although ETH has seen continuous net inflows of funds, it cannot withstand Binance (BN) listing 8 spot pairs in half a month, leading to a significant drain of liquidity due to the various coins being listed, causing altcoins to crash directly.

Moreover, the liquidity of altcoins is already poor, and many overvalued junk coins are tying up capital, making liquidity even worse. The current situation looks quite bleak.

2. Technical Analysis of ETH👀

From a technical perspective, ETH is currently retracing to a major trendline, with key support levels present here. This pullback has been like helping an elderly lady down the stairs, dropping in three waves from last night to now, and it should be nearing its end.

3. Future Expectations👀

Given the current situation, there aren’t many alternatives; we can only wait and see if a rebound will occur.

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