The ETH trading market has begun!!!
Ethereum rose to around 2780 after breaking 2730 last week
The market was unable to effectively stabilize at 2780
Instead, it fell back steadily after Friday
This morning it quickly bottomed out and rose to 2650
At the same time, this position is also the first resistance level for the weekly chart this week
In the short term, there will be significant pressure at 2650
However, it is now very difficult for Ethereum to crash like before
The main reason is that the Ethereum Foundation has started taking action
Moreover, during the holiday, it was observed that the Ethereum-related US-listed company BTCS increased its holdings by 1000 ETH, and Ethereum co-founder mentioned during dinner with Michael Saylor that they decided to establish a company to invest in ETH
All signs indicate that it will be very difficult for ETH to experience another major drop in the future
At the same time, there will be some altcoins consolidating at the bottom with upward movements
Therefore, short positions can only test short-term ambushes
