Dear retail friends in the crypto world, today let's have a good chat about the crazy market of ETH! At midnight, ETH was riding the waves, directly breaking through the key price level of 4330 and soaring to a high of 4370. This market is even more thrilling than riding a rocket!
From the news perspective
Recently, ETH has been receiving continuous good news. Yesterday, the net inflow of the US spot Ethereum ETF exceeded 1 billion USD, setting a historical record! This is a major event, with a large influx of funds, like filling up the tank of ETH's high-speed train, providing strong momentum for its rise. Moreover, ETH is also active in ecological development, with various decentralized applications emerging continuously, and both user numbers and activity levels are steadily increasing, which undoubtedly enhances the market's confidence in ETH and attracts more retail investors to enter.
From a technical perspective
Currently, there is indeed not much resistance above ETH. From the candlestick charts, there was some resistance around 4370 before, but if it can hold steady after this breakout, there is a possibility of continuing to attack 4500. From the moving average system, the short-term moving averages are in a bullish arrangement, and the MACD indicator also shows a golden cross with red bars continuously expanding, indicating that the market is currently in a strong upward trend.
However, we also cannot be blindly optimistic. The market in the crypto world is always unpredictable. Although ETH is currently experiencing a strong upward trend, we cannot rule out the possibility of it falling back below the 4000 price level again. After all, market sentiment can suddenly change, and some external factors, such as changes in regulatory policies or fluctuations in macroeconomic data, can all impact the price of ETH.
Caiyue's view
The future of ETH is likely to continue rising, but this process will certainly not be smooth. There may be some pullbacks during the rise, just like there were brief fluctuations after breaking through some key price levels before. If ETH can continue to attract investment and maintain good momentum in ecological development, it is possible to break through 4500 or even higher. However, if the market faces some adverse factors, such as a slowdown in ETF fund inflows or tightening regulations, ETH may also face significant pullback pressure and could possibly fall back below 4000.
For us retail investors, it is essential to remain calm at this time and not be carried away by this crazy market. If you already hold ETH and have made some profits, consider setting a take-profit point to lock in some profits while leaving a portion of your position to continue observing the market. If you are a newcomer looking to enter the market, be cautious and avoid blindly chasing highs; you can wait for a certain pullback before entering in batches. After all, the risks in the crypto world are substantial, and we cannot only focus on the potential gains while ignoring the underlying risks.
There are no deities in the crypto world, only smart people who can read signals. Caiyue's articles do not boast or make empty promises; they only teach you practical survival skills. Follow @财月女神 , daily strategies to get on board in advance!