Recently mentioned ETH in live broadcasts is no longer so bearish, or has started to show less weakness.
First, look at the ETH/BTC exchange rate. Since the last bull market, ETH has consistently underperformed BTC and has remained weak.
At least on the daily level, it is like this. In the short term, it has begun to slowly move out of the bottom range. This means that ETH is starting to show a certain "anti-decline" ability recently.
The only drawback is that the time level is not sufficient. Short-term signs of stopping the decline do not mean that the downward trend can be reversed. So as a potential "possible turning point" position, I think it's unnecessary to be overly bearish before it breaks new lows again.
Back to the market, ETH still maintains high-level fluctuations. The previous article indicated a pullback expectation, and last night it made a slight pullback along with Bitcoin, quickly recovered, and still maintains the consolidation structure unchanged. In the short term, one can clearly feel a certain inexplicable force lifting it, in conjunction with the short squeeze actions of Bitcoin and US stocks. This is also one of the reasons why bears are feeling uncomfortable recently.
Several positions to pay attention to
Support position
First position
Second position 1770-1780
Third position 1750-1730
Resistance position
First position 1860-1870
Second position 1890-1910
Third position 1950
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