BTC has completed two bottom tests on the recent hourly chart, and it looks quite stable. ETH, by contrast, is even stronger. Yesterday, a big player, whom we call a "whale", increased his holdings by 2,937 ETH in one go, which is a big deal. From a technical perspective, the price of ETH has fallen to its lowest point in nearly half a month, but this is also the starting point of an ascending triangle. Technically, this position has strong support and is a good buying opportunity.
I personally tend to be bullish and think that ETH has a trend of breaking upward, with the target of 2,650. Let's look at the liquidation of the futures market. According to the operating logic of those big funds, the longs have basically been cleared, and the leading currencies may be adjusted next. Yesterday, many currencies fell below their previous lows, but Ethereum still held on to the previous lows and performed very strongly. Now it has firmly stood above the pressure level of 2,550, which is definitely a bullish signal.
The support below is also very strong, so I think during the day, we can consider buying when the price falls back, which is the so-called "buy when the price falls back". In general, I am optimistic about the trend of ETH.
I will announce the specific big moves later, click on the avatar to follow me and share directly!
