ETH rebounded from 3350 to 3900 in just 5 days, which is shorter than I expected, and also indicates that ETH is very strong.
Let's talk about the reasons for ETH's rise.
1. Yesterday, Trump allowed U.S. pensions to invest in the crypto space.
2. Major U.S. stock companies are frantically increasing their positions in ETH because BTC prices are too high, so they can only increase their positions in ETH.
3. The U.S. is likely to cut interest rates in September, as labor department data is too poor, with a 90% chance of rate cuts.
These three reasons combined mean that ETH will have a continuous influx of funds.
Returning to technical analysis, ETH has now reached the resistance level of 3950, where it last fell.
This time, I think the possibility of breaking new highs is quite high.
So, at what position should we place orders? We will still place orders at the 7-day moving average, which is around 3850-3800.
Only long positions, no short positions!!!!!!!
Recently, $MYX surged by 2000%, and I personally monitored unusual movements in the on-chain giant whale wallets again, with institutions frantically accumulating. A stronger coin is coming tonight! Its strength is likely to be 60% stronger than $MYX ! If you want to join this wave of immense wealth, raise your hand to sign up below.
