Still underestimated everyone's determination to buy $eth
The spot ETH has shifted from a negative $239 million to a positive inflow of $114 million. It is said that many large positions are buying in this weekend, betting on a rally on Monday. The current price has already broken through the $4500 mark, and the downward channel has been broken.
With a resistance at $4632, if we can break through the $4632 level in one go next week, we will continue to challenge the $4800 high. Those who bought at the bottom can continue to hold their long positions.
$ETH The 4-hour and daily close doesn't look good. It's Saturday, and obviously, there's no capital entering the market in Japan, causing ETH to remain in a state of consolidation and decline. In the past two days, both spot and futures have shown outflows, and institutional buying power has started to weaken. During the consolidation phase, it's easy to see a continuation of the decline.
If there is a rebound, it won't exceed the price of 4500 at most. This week's close will have a long upper shadow, indicating a very unfavorable structure. Next time, it will be difficult to push towards the price of 4800. After all, no one wants to be stuck at 4800 four years ago and then again at 4800 four years later.
Trading will be very tortuous.
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