'A day in the cryptocurrency world is like a year in the human world,' this saying is not false at all. Today, let's have a good talk about the dramatic changes in ETH's 1-hour candlestick chart, as well as the impact of Trump's significant executive order on the cryptocurrency realm.
News:
401k pension funds are the 'wallets' for the retirement of American citizens, and the scale is astonishing. Once this portion of funds enters the cryptocurrency market, it will be like introducing a torrent of water into the 'big pond' of the cryptocurrency realm, greatly enhancing market liquidity.
On the market, after the news was released, the price of ETH soared as if under a spell. The sluggish market sentiment was ignited, and the bulls surged in like hungry wolves. The previously impregnable resistance level was easily broken under the impact of new capital.
First, let's look at this 1-hour candlestick chart. ETH previously had an explosive performance, soaring to a high of 3940.81, like a wild horse galloping on the market prairie, with investors cheering continuously. However, the good times didn't last long, as strong resistance created a thick wall, blocking the upward momentum. Subsequently, ETH fell into a high-level volatile 'quagmire,' with prices fluctuating in the range of 3642.45 - 3933.63, like experts competing without a clear winner.
Recently, ETH broke through the support level, starting a 'diving' trend, with prices sliding to around 3807.45. During the decline, there were occasional rebounds, like small lights in the darkness, but they were quickly extinguished by the bears, indicating that the bears have been quite strong during this period, controlling the market rhythm.
Vermilion Bird Viewpoint:
In my opinion, this executive order is a 'timely rain' for ETH. In the short term, it directly drove the price of ETH to soar, allowing many investors to reap significant profits. It's similar to when the Bitcoin halving news was released, and the market surged, with prices soaring, allowing many investors to make big profits. This time the situation with ETH is similar, and investors who laid out in advance are overjoyed. In the long term, if 401k pension funds enter the cryptocurrency market on a large scale, ETH, as a mainstream cryptocurrency, will receive more capital support and market attention, like being equipped with an 'accelerator,' and its market position and value are expected to rise.
However, we must not be blinded by the good news. The cryptocurrency market is unpredictable; despite significant positive news, uncertainties such as subsequent policy implementation and regulatory attitudes could affect ETH prices. Moreover, when prices rise, some investors may take profits, leading to price corrections. Therefore, investors should remain calm. Short-term investors can take advantage of the bullish trend to flexibly operate for price differences, but they should set stop-loss and take-profit points to mitigate risks. Long-term investors can hold firmly, believing in the long-term value of ETH, but should also pay attention to market dynamics and adjust strategies.
Is the tip of the wind too cold? Pay attention to Vermilion Bird, the Vermilion Bird hot core team is already in place! It only ignites the prairie fire of ambitious madmen!#ETH巨鲸增持
