ETH is also in a weak downward state today, falling straight from the highest point of 3020 in the early morning, and the lowest point reached 2936. It did not fall below 2936 in the second test at night. It is slightly stronger than Bitcoin overall. It is currently rebounding slightly due to the positive news of the US unemployment rate that week, and is temporarily running below 3000 points.

The market sentiment is still very low at present, and the overall decline is continuous. It is difficult to strengthen without the stimulation of new narratives and news. At the current position, both retail investors and whales are gradually cutting their losses during the decline. There are only two options to change the current situation. One is to continue to test the market and increase the volume until it reaches the demand area and the market begins to reverse. The other is for the main force to take action, increase the volume and make a strong statement. No matter which one, you need to wait.

In terms of exchange rate, it is slightly stronger, and the rise is less than 1%. Although Ethereum has not strengthened, it has not weakened compared to Bitcoin. This represents the status of most cottage industries, which have entered an oversold state. The main players are waiting for Bitcoin to rebound and make markets, but Bitcoin keeps chattering, and no main player dares to act rashly. They can only continue to wash the market and collect chips. For Ethereum, the current position of the spot in the medium and long term is cost-effective, and the short-term is still a downward trend.

At the current point, the upper short-term resistance is 3000 3200,

The lower short-term support is 2800,

In terms of operation, the market is against the trend, and the stabilization idea is the main idea. If it can stabilize at 3000 points, enter the market with the trend, which is cost-effective. Do not consider entering the market against the trend below 3000