$ETH exploded! These past two days have been moving sideways at a high level, and yesterday it directly dropped to around 3620, which just happens to be the key support level I previously discussed with my brothers!
The daily line hasn't broken the trend line, and the bulls are still fighting hard! The market is a bit soft right now, but the key is whether the previous low at 3620 can hold. If it holds, the bulls will continue to push up; if it doesn't hold, we may need to look for new support below.
The resistance level above to watch is 3850. If this level breaks, we will shoot straight for 4000! The overall structure is still quite solid, there hasn't been any downward trend, nor any major negative news. For those thinking of going short, take it easy and don't jump to short the top.
Personally, I believe as long as 3620 doesn't break, the bullish trend is still intact, and a pullback is actually a low-buy opportunity; if it breaks below 3620, it would be safer to wait for the daily line to stabilize before taking action.
Next, will ETH continue to push up or turn around? Leave a message to keep up with Xiao Li! I'll help you keep a firm grasp on the cryptocurrency market trends!