The rapid rebound of Ethereum after a sharp drop, followed by a period of oscillation and decline, raises questions about where it will drop next, how high the rebound will go, how to operate with altcoins, and whether the upward trend is still intact—these are issues of great concern to everyone.
After the Federal Reserve announced interest rates, Ethereum experienced a violent spike but quickly rebounded. It is currently near the previously mentioned support level of 3720. The probability of it holding near the lower support level around 3670 will significantly decrease. The spike below may reach around 3560; as long as this level is not broken, the upward trend remains, and major pullbacks still present opportunities to add positions.
Bitcoin is once again facing a test near the support around 115000, with lower support moving to around 11000. Currently, Bitcoin is near 116500. Ethereum at 3720 is also a choice, and the risk-reward ratio is quite favorable.
For altcoins, such volatility must lead to reduced trading. If it’s not time to add positions, one must endure the loneliness. Those who are trapped should not panic sell, as the principal will only diminish over time. Control your hands, and do not rush to act.