In the early hours of $ETH , the price of Ethereum stabilized around the 2770 line after fluctuating, leading to a strong rebound that peaked at around 3000 before slightly retreating to the vicinity of 2950. The bullish strategy provided by Yunlu last night successfully captured nearly 180 points of movement. When the market is truly significant, one must hold onto positions for long-term gains.
The technical analysis shows a breakthrough of the 18-month downtrend line on the weekly level, with the 4-hour moving averages arranged at a strong 45-degree angle, and trading volume increased by 65% at the breakout. Key support levels are at 2950/2900, with resistance at 3000/3050. On-chain data indicates that exchange ETH balances have dropped to an 18-month low, with large whales increasing their holdings by 350,000 ETH in a single day, reflecting a strong bullish sentiment in the market.
Ethereum Recommendation: Lightly position in the 2930-2950 range, targeting 3000-3050, with a stop loss below 2880
