ETH continued to be weak today. After the weekend's strength, the main players disagreed. Some of them did not buy it and chose to smash the market. In three days, it fell from 3357 to 3020. There was no fundamentals, no bad news, and no profit-taking. Why was it able to smash 300 points? Now it has come to the 3000 defense battle
We mentioned earlier that the whales increased their positions in the 3000-3100 range, but if the market is not as expected, this part of the position may flow back into the market and become a new selling pressure. The only point that can be hyped in the short and medium term for Ethereum is the spot ETF. The market currently does not have great expectations for the May pass. In general, it is the most pessimistic time now, but in the medium and long term, the cost-effectiveness and certainty of Ethereum at this position are very high. Spot parties should not panic, and dare to smash and buy
In terms of exchange rate, it broke through 0.05 before, and then there was a door-painting market, which was indeed a bit unpredictable and fell below 0.05 After that, I will not go long on the exchange rate against the trend. In the counter-trend market, only Bitcoin has the highest certainty. If Bitcoin cannot hold up, it is difficult for the copycat to have an independent market. In the counter-trend market, it is recommended to focus on spot trading.
At the current point, the short-term support below is 3000 2800,
The short-term resistance above is 3200 3400
In terms of operation, Ethereum continues to be weak, so don't enter the market easily in the short term. Spot trading can continue to be deployed. In the short term, pay attention to whether the 3000 point can hold up. If it can be withdrawn by a pin or does not fall below 3000, consider entering the market.
