After Bitcoin reached its historical peak, Ethereum has not yet shown a significant rebound.
Currently, the technical pattern of ETH aligns more with the logic of a head and shoulders bottom formation, rather than the double top structure that the market is concerned about. Looking back at the accumulation phase before the previous round of increases, the market experienced nearly two weeks of sideways fluctuations, and since breaking through the key level of $2700, it has coincidentally completed the same cycle of volume accumulation by the end of the month.
Under the resonance of technical cycles, ETH's upward trend still possesses continuation momentum. If this month's monthly line can solidly close above the psychological level of $3000, it will lay a more solid offensive platform for the bulls, and the subsequent price action is expected to further release its elasticity.
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