Last night, ETH rose from 2480 to 2529, and after a peak, it entered a sideways consolidation. The drop during the early morning was actually a typical shakeout, with not much volume, and clear support at the bottom.
The long position entered at 2420 yesterday was exited at 2520, securing a profit of 100 points.
How should we view the current market?
From the chart, the second test of the bottom this morning did not break a new low, indicating effective support below. The recent bullish candle has broken through a short-term small structure, with higher highs and lows, indicating a strengthening trend, and further upward space is expected.
However, it is not suitable to chase highs right now; there are still opportunities for low entries, so just wait patiently.
