Regarding the current trend of #ETH, it should still align with my established expectations. In yesterday's tweet, I mentioned that 3840 is a critical point, as ETH's increase has already reached 55%. At this point, with the price dropping, let's not rush to conclusions about whether it has peaked. For now, we can view this as a reasonable correction. After a price surge, the momentum for breaking through weakens, and buyers feel that the price is too high for the value it offers, which naturally hampers further price breakthroughs. Holders may also sell at appropriate levels, leading to a turnover. At this moment, a short-term correction is needed to repair the trend and adjust the chip structure. This can actually be referenced against #Bitcoin's trend last week. If, in the remaining trading days of this week, the ETH price cannot break through the new high of 3858, it means that next week's ETH theme will also undergo a daily level oscillation correction. As for altcoins, I believe as long as BTC and ETH stabilize at high levels and form oscillations, market risk appetite will increase, and capital rotation will also start. After the mainstream leading tokens break through at high levels, many investors worry about whether there will be a significant drop after reaching those highs. At this time, as long as the price undergoes reasonable oscillation corrections and remains stable, the market will gradually become optimistic over time. Therefore, after BTC and ETH break through, a period of "settling" in terms of time is needed. Once it is confirmed that a daily level correction is underway, we need to see whether it is a simple adjustment or a multi-week corrective wave distinction!
Cato_KT
Cato_KT21.7. klo 23.40
#ETH has once again reached a critical point, with the daily MA200 showing a 55% increase at 3840. The next critical point corresponds to a price of 3970 at 60%. The daily chart shows a collective upward trend; although the RSI has been above 70 in the overbought zone, the bottom divergence of the daily Bollinger Bands is not obvious, and the demand for a pullback is not strong. Let's first observe whether 3840 can break through and hold. Theoretically, after ETH rises, it can stabilize with high volatility, which is more favorable for altcoins! Not saying that the XX season is here, but it is indeed a good thing to effectively activate the market, making it comfortable for both practitioners and traders!
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