The latest market commentary has been saying that Ethereum is about to change trend and rise. This single-day bullish candlestick with an increase of over 23% has directly pushed Ethereum's price between the two blue lines.
If you followed what we said yesterday and chased after breaking 1880, you would have made a nice profit by now.
After being flat for so long, the strength that Ethereum has shown is quite impressive, with the trading volume being more than three times the recent average daily trading volume, indicating a significant increase.
A quick rise in a short period will lead to adjustments, but the underlying strength will not diminish. During the adjustment process, there won't be significant small drops. The lower blue line will serve as its important support, with a retracement area between 2060-2120.
The rise of Ethereum will drive the increase of the Ethereum ecosystem, especially in the re-staking ecosystem tokens. During a dip and retracement, these are great opportunities to get in.
Daily resistance levels are 2310-2450-2510-2690, support levels are 2120-2000-1890-1740.
From Ethereum's liquidation heatmap, it can be seen
As the price rises, there are still some large short positions waiting to be liquidated in the 2212-2264 area.
As the price falls, there are some large long positions waiting to be liquidated in the 2150-2100 area, and a substantial amount of large long positions waiting to be liquidated in the 2040-1860 area.
