How's it going, guys? Did you catch on? $ETH 's move directly broke through the $4200 mark, like a rocket!
Yesterday, the RSI on the 4-hour chart was hovering around 65, but today it soared to 78, and the MACD histogram also expanded, a classic example of rising volume and price. I placed a long order around 4150 this morning, and my unrealized profit is now over 5%. This surge is amazing!
Is it impressive? Just look at the data. 24-hour trading volume exceeded 20 billion, and BlackRock ETF had a net inflow of 12,000 ETH yesterday, clearly supporting the market. More importantly, the ETH collateralization rate just broke 22%, and the on-chain activity following the Shanghai upgrade has directly boosted DEX trading volume. Uniswap also surged above $11.5 today, demonstrating a complete resurgence in the DeFi sector!
But don't rush to chase the gains. 4250 is weekly resistance. If it breaks through with significant volume, the next stop will be 4800. If it breaks back up, a short-term pullback to the 4100-4150 range would be a good opportunity to cover your position. I've set my take-profit at 4280 and my stop-loss at 4120, keeping my position below 15%. After all, Bitcoin is still hovering around 121,000. If $BTC suddenly breaks, altcoins will definitely follow suit.
In short, if you can capitalize on this rally, you'll profit. If you miss out, don't rush; wait for a pullback and look for opportunities. There are plenty of tailwinds in a bull market, but don't let your emotions drive the show!
I'll continue to plan my winning trades! Instead of blindly trying to identify the optimal entry and exit points and end up losing money carrying trades, why not follow me and buy directly if you agree?
