What has ETH been up to in the past day?
ETH has been very strong in the last 24 hours!
At first, the price was hovering around 3400 with not much action;
Then, in the early hours of the 18th, it suddenly surged, rising directly from 3400 to 3600;
The stronger the rise, the more yellow and green lines on the chart, indicating that many short sellers have been liquidated;
The more liquidations occur, the stronger the market becomes, as short positions are wiped out and long positions gain strength.
What might happen next?
With such a rapid increase, there might be a pause in the short term, and it’s possible to see a pullback from around 3700;
If it drops, the 3500~3600 range will serve as a support level;
As long as it doesn't break below 3500, the overall direction is still upward;
If it breaks through 3700 again, there is a chance to challenge 3800 or even higher.
Advice for beginners:
Don’t rush to chase the price now, as there may be a retracement;
Wait for it to return to the 3500~3600 range before considering gradually building a position;
Be sure to set take-profit and stop-loss levels, and don’t go all-in, as the market has just begun.
