The monthly line is a small negative line with long upper and lower shadows. The trading volume is basically the same as last month, and the price has reached a 24-year historical high.
In terms of form, it is a downward correction trend after a rapid rise and a surge. The low point just hit the monthly MA10 moving average, forming a small-scale rebound.
The MA30 line of the monthly line is in an upward trend, so the upward momentum is still there. Currently, Ethereum is waiting for Bitcoin to adjust into place before it can continue to perform. Compared with Bitcoin, Ethereum will always be one step slower.
Funds continue to flow into US stock ETFs, and institutions are also constantly buying. There is no need to worry about the funding side, just wait patiently.
The downward adjustment is for a better upward trend, belonging to the Ethereum bull market, it will come.
There isn't much to say at the daily level, it still maintains a volatile trend, and there have been many candlestick patterns of doji on the daily chart.
The MACD at the daily level continuously shows a weakening downward momentum; just one strong bullish candlestick is needed to announce the arrival of a new round of daily-level rebound.
Don't lose patience with Ethereum; patience is often the most important thing in trading.
When Ethereum rises, altcoins rise; it's important to catch the right rhythm.
The resistance levels at the daily level are 3480-3630-3825-4200, and the support levels are 3300-3200-3100-3020-2870-2750.
From the liquidation heatmap data of Ethereum, we can see that
As the price rises, there are large short positions waiting for liquidation in the 3456-3488 area and the 3500-3550 area.
As the price falls, there are large long positions waiting for liquidation in the 3324-3256 area and the 3240-3200 area.
