Is ETH really going to fail?
My answer is that, at least from the perspective of the coin price, it is quite weak. ETH used to be the leader in the market, with a market value of 300 billion US dollars, firmly sitting in the top spot. Although the market value of SOL is only 81 billion US dollars recently, its growth is fierce. As long as it can rise, it is the king.
Recently, the price of Bitcoin is almost 70,000 US dollars, and it has soared by 16.67% in ten days. As soon as the market heats up, everyone starts to think about where to invest their money to hedge. In the past, everyone was staring at ETH and thought it was stable, but this time, SOL has become a new favorite, and everyone is rushing to it to reduce risks.
Take the past few days for example, the price of BTC broke through a major barrier, but SOL rose by 4% in one day, which was the most violent day in the past week. The next day, BTC slightly adjusted back, and ETH also fell by 3%.
But SOL has not fallen much. The bulls are strong, especially after SOL broke through the key price of $160, the price rose like a rocket. Now it is $173. Maybe the strong will always be strong and the weak will always be weak. RSI shows overbought. It has risen by 83% in the past two weeks. This trend reversal may be just around the corner.
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