On April 18, Ethereum's price fluctuated around 1585 USD. Ethereum's performance in this bull market has been disappointing. Under the circumstances of Trump and continuous positive news for the crypto market, Bitcoin has continuously broken new highs, with Ethereum peaking at 4107 USD, creating a new high since the bull market of 2021, but not breaking the historical high. Investors are very dissatisfied with the performance of this second-in-command in the crypto market, as it rises slower than others but falls more fiercely!
What is the fundamental reason for Ethereum's continuous creation of new lows?
As of now, the exchange rate of Ethereum and Bitcoin is only 0.018. In this round of the bull market, Bitcoin has repeatedly broken new highs, while Ethereum, the second-in-command in the crypto market, has repeatedly disappointed. On April 9, Ethereum fell to a low of 1385 USD, the lowest price since March 2023. It is said online that V God’s romantic relationship has led to Ethereum’s price decline. Ethereum was not created solely by V God, and of course, the continuous decrease in Ethereum's price is not solely caused by him.
I believe the reason Ethereum cannot rise is due to the aging of its technology. Many cryptocurrencies with functions similar to Ethereum have lower costs and faster processing speeds, repeatedly causing a strong impact on Ethereum. As a result, many projects do not choose to issue tokens on the Ethereum chain, such as the recently issued TRUMP by Trump, which chose to be issued on the SOL chain.
If this situation continues, without upgrading the essence, hardware, and technology of Ethereum, Ethereum will eventually fall from grace, and many new crypto stars will take its place!
Current market trend analysis in the crypto market.
Currently, Bitcoin's market situation is in a high-level horizontal oscillation phase, choosing the next direction point. According to experience, it won’t be long before the market experiences significant events that will have a major impact on the crypto market, thus determining the trend for the next cycle. Based on the crypto market's four-year cycle, this round of the bull market is expected to peak in Q3-Q4 of this year. Two scenarios are anticipated next:
1. Bitcoin is waiting for the rise of second-tier mainstream coins and altcoins at high levels. Bitcoin breaks through new highs, and altcoins will welcome a resurgence, lasting until the end of this year or early next year, when this round of the bull market will end, the market will gradually decline, and enter a bear market, starting the next cycle.
2. Altcoins will not rise again. Bitcoin is in a high-level horizontal oscillation, continuously attracting altcoins and capital entry, but the bear market has arrived. Bitcoin will gradually move downwards, dragging altcoins down with it, with many investors trapped at the peak and mid-level!
Which coin is worth laying out now?
Currently, the most stable option, in my opinion, is EOS. EOS created a price of 1.54 USD at the peak of this bull market, dropping to a low of 0.4336 USD following the market downturn. While other altcoins are continuously declining, EOS's rebranding and change of track made it rise unexpectedly, becoming a beacon of hope in the crypto market. Once this news was announced, EOS was lifted to 0.67 USD. After the restructuring, the rebranding effect rose again, reaching a high of 0.884 USD, and is currently retreating to around 0.63 USD.
From the current technical analysis, EOS's trend is currently in a small wave oscillation. However, the overall direction is clearly moving upwards, and the short-term wave can focus on the range of 0.605-0.645. For the long term, attention can be paid to the upper resistance at 0.8 and the previous high point of 0.88 USD.
If you want to know more about crypto market trend analysis and first-hand information, including medium to long-term doubling strategies and short-term wave operations. For precise contract point analysis, feel free to follow for detailed discussions. Laughing in Crypto, dedicated to being a warm and technically proficient crypto market blogger!
