I haven't talked about ETH continuously, why? Because POW changed to POS, which hurt me~~
Today, let's talk about ETH;
Many people feel that this wave of the bull market represented by #ETH is not as good as #BTC , and indeed, it is somewhat less impressive; however, in terms of the increase ratio, the difference is not significant. After all, ETH has risen from the bottom by about 4 to 5 times, just not as dramatically as the public expected, like BTC breaking its previous high and soaring.
With the recent decline, it has dropped to around 1400. So, has ETH hit the bottom?
From a weekly perspective, ETH is still in a downtrend, but it has reached an extreme value, meaning the current position is its relative limit.
Then it is necessary to look for a reversal signal in the downtrend at the daily level:
From a trend perspective, it is still in a downtrend;
From a pattern perspective, a bottom pattern has appeared; (not fully effective)
Thus, the conclusion is: there is a possibility of a stop in the current decline, but it needs to be confirmed as a true bottom.
There are two ways to confirm that it is a true bottom and has stopped declining:
① ETH price breaks above 1970;
② After April 21, 2025, ETH price is above 1500;
The theoretical basis for these two methods is Wave Theory and Trend Lines.
If you are concerned about ETH, you can wait for the market to give a clear bottom signal before executing your corresponding strategy.
