The cryptocurrency world is buzzing again. $ETH says there will be big moves, or is it just a 'scam'?
The Ethereum ecosystem has been vibrant lately, with continuous technical optimizations and new protocols emerging, greatly expanding the application scenarios for ETH and bringing new opportunities for demand growth.
On the technical side, a quick glance shows that the fast and slow lines in the indicators are about to cross, although there was a drop before, it wasn't too severe, and it held around 4200. There is a dense accumulation of orders in the 4250-4300 range!
On-chain data hasn't changed much recently, and large funds aren't in a hurry to exit, which is a good sign. Currently, the bulls are dominant, but it's not at an extreme level, unlike the previous one-sided situations. This indicates that the market is quite 'conflicted' right now, but conflict often means there are opportunities.
In the short term, the support level is around 4300 dollars, defending 4250. It bounced back when it fell to this level before, which is crucial; the resistance level is first looking at 4500, this position has also been tested several times before, and the breakout will depend on the strength.
Personally, I think that as long as it doesn't drop below 4250 in the short term, the probability of pushing upwards is quite high, especially since the news and on-chain data have provided some confidence.
As for the short-term strategy, you can try a small position near 4250; if it drops below, then exit, but if it doesn't drop, hold on and wait for a rebound.
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