#交易分析101 # Binance Alpha New Listing #交易分析101 3.11 Evening Market Overview: $ETH ETH dropped to the bottom in March 2023

The last time ETH was at 1754 was on March 18, 2023 - October 24, lasting for half a year before it started to rise sharply to about 4100. Will this time, after 2 years, continue the upward trend seen 2 years ago?

The US stock market opened with sharp fluctuations, it seems that tonight's market is a bit exciting; ETH is still within a descending wedge channel, with lower support still at 1754. If it breaks below that, we will look at 1650, and the upward resistance is still at 2000; the current market is still mainly on the short side, with a resistance zone between 1988-2000, defending at 2070, targeting a new low or manual profit taking; if ETH breaks below 1764, two large on-chain positions will be liquidated, one at 113 million USD and the other at 117 million USD.

ETH spot ETF saw a net outflow of 16,840 contracts yesterday, with Grayscale directly outflowing 2,380 contracts. It seems that the market's willingness to sell ETH is quite significant, and Grayscale has been continuously selling ETH spot ETF to meet user demand.

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