Hello everyone, I am Eleven. Today we will talk about the latest market analysis of ETH
Hello everyone, I am Eleven. Today we will talk about the latest market analysis of ETH. If you are interested, you can take a look together!!
Recently, with the recovery of the encryption market and the continuous rise of ETH market, prices have experienced a wave of rebound. From 1530 to 1670, we can see that it is now a phased bottom. I believe this is undoubtedly good news for participants, especially those who decisively bought at the 1530 price range, who have already made a profit of 150 points in this round of increase.
So looking back at the past period, ETH prices have been sluggish.
Eleven believes that there are many reasons behind it:
Firstly, the bear market in the cryptocurrency market is ongoing, and it has been found that the prices of various cryptocurrency assets, including ETH, have generally declined. Subsequently, ETH is about to undergo significant upgrades, including the launch of ETH2.0, which may bring uncertainty to the market. XI believes that this will affect ETH prices.
Assuming the price is lowered to 1640, it will lure a large number of investors who have opened long to close their positions. But if the price continues to rise to 1699, XI believes it will lead to a large number of short selling participants stopping losses. It is worth noting that according to the understanding of the 11th, many participants choose to open more at 1530. Therefore, the 11th believes that this phenomenon indicates that although the declining returns may be higher, the price trend of ETH is still worth paying attention to.
Here we need to clarify that the trend of ETH does not directly determine the trend of the market. Participants should also closely monitor the trends of other digital currencies and the broader market while paying attention to the ETH market, in order to better seize opportunities.
Overall, the rebound in Ethereum prices is a positive signal, and we believe it indicates that market confidence is recovering.
If you have any questions, you can ask me directly. As long as you know it on November 11th, you will definitely know everything!
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