The Ghost Hand Analyst is Online
Yesterday, after the U.S. stock market opened on Monday, it broke the two-day tranquility in the cryptocurrency market, retreating twice at the $2510 position, confirming that there is pressure at this level.
After drawing a door on the weekly chart, it rebounded with the opening of the U.S. stock market, rising above the 200-day moving average. The phase of decline seems to have come to an end, but the trend still appears to be relatively weak, and the current momentum for the week is still unclear.
As of now, $ETH remains in a net outflow state, but the price has not shown a continuous decline; instead, it has been testing the pressure level on the way down, which is the main reason for the current lack of upward momentum and confidence, compounded by some geopolitical influences.
So when can we expect a strong upward trend?
I believe that when a bullish candle closes on the weekly chart, a significant upward trend will arrive. Currently, many people lack confidence in this market, leading to repeated downward tests.
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