Mie520

ETH upward momentum still exists

KRAKEN:ETHUSD   Ethereum
The market maintained a small oscillation over the weekend, the price has been in the 3 waves of the washout and the weakest 4 waves of the tipping point, both movements are still possible, according to the previously set space, the previous reduced out of the position has been back to cover the first, the remaining funds or to prevent the possible 10%-20% decline afterwards.
The current theme is still out of the field, adding the part of the position would have been the rotation of positions with profits, so out of the game do not have to be too greedy, mainstream coins 10%, 20% of small coins, corresponding to the rise in the emergence of this part of the position can be reduced.
At present the total net outflow of ETH has shrunk from a peak of nearly 700,000 to 420,000, although the amount of money out of the game is large resulting in no increase in the pledge rate, but the number of verifiers has been accelerating growth, it is understandable that in addition to individual large investors liquidating their positions and withdrawing, a large number of investors still reinvest, the net proposed after the Shanghai upgrade (raised - transferred) peak may not exceed 700,000 again, currently can see The total number of funds in the queue for withdrawal is still 90,000, which is expected to be finished at 8:00 tonight, but compared to the previous withdrawals of hundreds of thousands of pieces, it is not a big deal, and in general the situation is still developing in an optimistic direction, with the decline in withdrawals, the ETH pledge rate will resume to rise is also a probable event, burning deflation + pledge volume rise brought about by the lock-up, ETH upward momentum still exists.
So, remain optimistic about the follow-up, and continue to respond to short-term turbulence with batch entry until the market enters the reduction zone again.
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