$ETH This wave of pullback is a normal technical adjustment, so there is no need to worry too much about a significant drop.
Currently, there are several key supports:
The support below is strong; 4100 is the previous high position, 4250 has weekly mid-line support, and 4000 has a long-term trend line supporting it.
These positions are all strong supports and are not easily broken.
The capital situation is very healthy, and the trading volume has noticeably decreased during the pullback, indicating that there is no large capital exiting.
Institutional holdings are also very stable, with no signs of large-scale withdrawals.
It’s mainly ancient address whales selling off, and the listed companies have already absorbed these chips, which means a turnover, and the average price in the market has been raised.
The main force is washing out positions near 4800, where there are quite a few leveraged longs; the main force needs to clear out these floating positions.
Through oscillation washing, it can clear leverage and build up strength for subsequent breakthroughs.
In the 4250-4400 range, you can buy in batches, and stop loss if it breaks below 4000.
If it breaks through 4600 with volume, it indicates that the adjustment may be over, and you can appropriately increase your position.
Overall, this kind of pullback is very normal in a bull market, and there is no need to panic. Maintain patience, and after the adjustment is in place, it is highly likely to continue rising.