ETFs buying up real gold and silver for ETH, retail investors finally showing some strength!
ETH has been rising sharply recently, and the core reason is that ETF funds are frantically buying up — retail investors were previously devastated by sell-offs, but now with continuous ETF purchases, the price is being held steady, making it feel like short sellers are smashing against an iron plate!
This morning, ETH surged directly, breaking through $1850, and all the large sell orders above were consumed in one go.
However, once it reached the upper bound of the 4-hour channel, it was evident that the momentum was lacking — technical indicators are already showing signs of exhaustion, with the first support for a pullback at $1780. But for the weekend, those looking to short should think twice; if ETFs explode with buying on Monday, short sellers could be hammered in no time!
At this stage, the uptrend is persistent, but waiting for a pullback price to continue positioning is advisable.
Continuing to lay out positions in strong altcoins, catch up with the message 111 led by Wuchang!
