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#ETH has completed a breakthrough and is maintaining a strong upward trend, but attention should be paid to the short-term resistance around 3840 in the 4-hour range. If the price quickly breaks through this level and stabilizes, it will basically be heading towards a recent new high.
Recently, ETH's performance has indeed been strong. If it refreshes a new high again, it would essentially mean that a small pullback has been completed in six days, and this kind of strength can bring more confidence to the market!
If it continues to break through, the next focus will be 3970.
26.7. klo 17.49
Is the trend of #ETH strong? It is indeed strong, but it still hasn't broken through the 4-hour range limit. As it stands, it remains a 4-hour range oscillation structure.
Short-term resistance is at 3780. How effectively the price can break through and stabilize above this level will determine if it is truly strong enough.
A short-term rise does not necessarily mean that the subsequent trend will continue to be strong. Based on the current trend, if the 4-hour range cannot be effectively broken, and the price falls back to maintain range oscillation, we can only say that the overall trend is relatively strong, but the daily level oscillation is still ongoing.
It has only been 5 days since the historical high, and this period of adjustment is not sufficient. Moreover, the market's activity over the weekend still shows relatively poor liquidity, so the view of daily oscillation and correction remains unchanged for now.
Of course, the strong hourly trend of ETH is a good thing for the altcoin market, as it at least consolidates the increased risk appetite in the Crypto market.
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