This wave of market started to counterattack from the low point of 2486, peaked at 2624 and then was knocked down again. It is currently holding around 2520 USD. In the past few days, the price has been oscillating between 2530 and 2580, and neither side has yet determined a winner. Recently, the entire cryptocurrency circle has obviously become more active, with Bitcoin leading a small upward movement, and other mainstream coins also rebounding in response. Market sentiment is noticeably warmer than it was a while ago.
Recently, large holders have been secretly increasing their positions in Ethereum, and the buy orders in the exchanges have clearly thickened. Additionally, Ethereum's own ecosystem is indeed making moves, with new DeFi applications emerging daily, and on-chain trading volume visibly increasing. Especially with recent technological breakthroughs in scalability solutions, the old problem of on-chain congestion has improved significantly, and gas fees are not as frightening as before. These tangible progressions have supported the price.
Currently, the overall market environment is slowly improving, and technically, Ethereum's weekly chart has formed a double bottom pattern. As long as the overall market does not suddenly crash, Ethereum may be able to make a decent rebound after this wave of consolidation. However, we need to keep an eye on Bitcoin's trends; if Bitcoin can stabilize, Ethereum should be able to benefit.
Rather than stumbling in the dark alone, it's better to grab the wings of the strong, let experience pave the way for you, and let the vision help you break through the ceiling. I mean, where can you find a gambler losing every day, and where can you find a child crying every day?
Focus for the day: OM SUI SOL FUN BTC
