The best entry point for the Ethereum rebound market
Like Bitcoin, the B-wave rebound in Ethereum's bear market has not yet completed. It is currently in the B-b wave correction phase of the B-wave rebound, and there will be a subsequent B-c wave rise. The conservative target for the B-wave is in the range of 2750±50, while the optimistic target is in the range of 2950±50.
Yesterday, Ethereum experienced a significant decline, falling to a low of 2034, very close to the March 23 low of 2023.
The trading volume during yesterday's decline was significantly lower than the trading volume during the rebound on March 23, close but less than the trading volume during the decline from March 17 to March 19. On one hand, this indicates that selling pressure is relatively weak, and the decline is limited; on the other hand, it shows that selling pressure has not yet been exhausted, and there is still a possibility of further declines.
Considering that Ethereum has accumulated a large amount of liquidity in the range of 1960-2010, especially concentrated in the 1988-2007 range, it is possible that the main force will let Ethereum drop below 2000 to acquire this liquidity before starting the B-c wave rise.
If this scenario occurs, there will be a better entry point than the March 23 low. This would also be the best entry point for the B-c wave rebound market.
Based on the liquidity accumulation situation of Ethereum, the best entry point may be in the range of 1950-2000. However, this is just a possibility, and betting completely on this possibility carries considerable risk.
The above analysis is for reference only and should not be considered as investment advice! $$ETH #ETH #以太坊ETF批准预期
