Hello everyone, I am Eleven.
As an important member of the cryptocurrency market, ETH's price trend has been closely watched by me recently. In the past week, the price of ETH has risen by 20%, which I think is good for mid-term investors. However, I have found some risk warnings that deserve attention.
From the price trend of Ethereum, we found that although the price rose during the day, it did not break through the previous high in volume, which is a phenomenon worthy of attention. This shows that the upper pressure level is heavy and has not been successfully broken through.
Eleven believes that this is a period that requires close attention and careful operation.
Ethereum's current main support level is around $1,800, which I think is also a key psychological barrier. I speculate that if the price falls below this support level, it is likely to trigger a new round of decline. The upper resistance level is around $2,000. Only by effectively breaking through this resistance level can further upward space be opened.
Ethereum's recent application in DeFi, NFT and other fields has continued to develop, providing some support for its price. However, due to the uncertainty of the global economic environment and regulatory policies, market sentiment remains cautious. Eleven believes that this is the reason why Ethereum's price is difficult to get rid of the volatile pattern in the short term.
Given that the short position is dominant in the current shock zone, we suggest that participants be cautious in their operations and avoid blindly chasing the rise. They can choose to buy on dips near the support level and take appropriate profits near the resistance level.
If you have any questions, you can ask me directly. As long as it is something I know, I will tell you everything!
