Volatility has been increased as price approached their previous lows again. The U.S. stock market did not open yesterday, and the 3-day holidays made the bulls recover. However, it should be noted that the recent 3-day holidays were on Jun.20 and May.30, also showed a sign of rebound at that time. At present, high-inflation is hitting demand, and the weakness of capital is still continuous. The process of deleveraging has also push many lending and asset management companies to the edge of a cliff. The macro level is not optimistic.
Rather than sustaining the strength of the previous bulls, and rising directly in early of the week, but rebounded after price fell near the previous lows . The volatility of ETH was increased last week, and there were many bulls looking for dips at the 1000 level. Compared with BTC, ETH's performance is ordinary. After all, this round of rebound, ETH jumped the gum, but the result was the same as BTC, only started to rebound at a low level. This also shows the problem of bulls' initiative. Compared with buying spree on the low cost, the current rebound is much gentler, which is reflected in the trading volume and the candles combination.
Conclusion:Mostly fluctuation. The lack of capital may exacerbate volatility, but the gap between bulls and bears is not obvious , which leads us to this conclusion. We held last week's support level at 1050 and lowered the resistance level to 1240.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Rather than sustaining the strength of the previous bulls, and rising directly in early of the week, but rebounded after price fell near the previous lows . The volatility of ETH was increased last week, and there were many bulls looking for dips at the 1000 level. Compared with BTC, ETH's performance is ordinary. After all, this round of rebound, ETH jumped the gum, but the result was the same as BTC, only started to rebound at a low level. This also shows the problem of bulls' initiative. Compared with buying spree on the low cost, the current rebound is much gentler, which is reflected in the trading volume and the candles combination.
Conclusion:Mostly fluctuation. The lack of capital may exacerbate volatility, but the gap between bulls and bears is not obvious , which leads us to this conclusion. We held last week's support level at 1050 and lowered the resistance level to 1240.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
