Can we bottom out below 2500 for Ethereum?
Last night, Ethereum quickly rebounded after breaking through 2500 USD, with weekly support staging a desperate counterattack. This is clearly a violent washout by large funds; below 2500 USD is the golden pit. If we don't bottom out now, when will we?
Institutional operations are frantic, with BlackRock purchasing over 23,000 ETH in three days, and the US spot ETF seeing a net inflow of 1.41 billion USD in ten days. On-chain whales are also not to be outdone, with a mysterious address buying over 4,000 ETH in two days. Despite adverse international news, the price quickly rebounded, indicating that the market makers are washing out positions using news. The ETH holdings on exchanges have reached a two-year low, with over 1 million ETH locked up.
The technical outlook is positive, with RSI breaking above the 50 midline, MACD about to cross golden, and a threefold bottom divergence on the daily chart. Staking volume has reached a new high, with an annualized yield of 4.5%, making it a crypto treasury bond. On the macro level, the probability of a Federal Reserve rate cut is high, hot money is flowing into the crypto circle, and there are many epic favorable factors.
My strategy is to gradually increase positions below 2500, leverage if it falls below 2400, and keep some cash to chase the rise, absolutely no shorting. Bottoming out is only for spot trading; if ETH doesn't reach 5000, I will live stream eating my keyboard, but don't go all in; keep some cash for black swan events.
For the upcoming layout direction, I will guide everyone to target the lucrative opportunities in altcoins, expecting a potential space of more than 10 times is not a problem. Like + comment, and I'll help you layout the entire bull market together!
