After cursing $ETH , let's analyze the market for ETH. I mentioned on July 10 that ETH is likely to become the leading altcoin, mainly because all technical indicators, including moving averages, are performing very well. Currently, ETH has broken through 3100, and theoretically, there are no resistance levels left. In the short term, as long as it stays above 3050, it will be fine. I have really been tricked by ETH and am now cautious. If I must mention resistance, it's only near the previous high points of 4120-4150. 3400-3500 will come soon. Moreover, ETH is quite interesting right now; some institutions are buying heavily while some whales continue to sell off, and the large turnover of ETH is still ongoing. Over the past few days, you can see from the news that there is frequent large turnover of ETH, with intense long and short battles.
If this wave of ETH has a main upward trend, the logic will be the same as BTC; it still isn't an internal narrative within the circle, and institutions outside the circle invest in BTC with a different logic, leaning more towards asset allocation rather than internal industry innovation.
