Ethereum needs to be focused on:

There are several reasons. First, Ethereum has not broken a new high this year. Second, the correction shown in the chart is very healthy. It hit the Fibonacci 0.618 position accurately and then quickly recovered. The overall market has a strong consensus on the price of Ethereum.

Although the Ethereum ETF has been postponed recently, the market expects the SEC to pass. The main players are now in the stage of increasing their holdings, including Justin Sun. From the last decline, we can see that the lowest price was only 3200, and there was no large-scale selling. Mt. Gox affected Bitcoin, and Ethereum led the decline.

In the short term, it is also a retracement to 3450 after the breakthrough. This position is also a short-term resistance and support exchange position. Ethereum below 3400 can be deployed. After passing, there is a high probability that there will be a rebound like 5.20.