ETH is really going to be the big brother of altcoins this time!
From the current technical perspective, it has performed beautifully, with all moving averages in a bullish arrangement. Now that it has broken through 3100, there is basically no resistance above. Some say that ETH has faked breakouts too many times before, and they are really scared.
Let me give everyone a reassurance: as long as it stays above 3030 in the short term and does not fall back, it's fine. The only potential pressure might be around the previous high of 4100, but I personally feel that 3400 will come quickly.
Right now, the ETH market is particularly interesting; on one side, institutions are buying heavily, while on the other side, whales are selling off crazily, and both sides are in a fierce battle. If you look at the on-chain data these days, you'll see that large ETH transfers are particularly frequent, and the chips are changing hands significantly.
If ETH really enters a main upward wave, the logic is actually the same as BTC; it’s not relying on new stories from within the crypto circle, but rather big institutions from outside the circle treating it as an asset allocation to buy.
In the crypto space, choice is greater than effort! Follow the right people, and making money will come naturally!
