The Crypto Market: Ethereum Rises Strongly, S1 Filing Approval Imminent?

The Crypto Market: Ethereum Rises Strongly, S1 Filing Approval Imminent?PrefaceThe cryptocurrency market is like a vast ocean, with turbulent waves and unpredictable changes. Yesterday, SOL briefly broke through the range of fluctuations, but failed to gain ground and finally fell back to the fluctuation range, a typical false breakout phenomenon, and needs to wait for a clear stop-loss signal before considering entry

The Crypto Market: Ethereum Rises Strongly, S1 Filing Approval Imminent?

Preface

The cryptocurrency market is like a vast ocean, with turbulent waves and unpredictable changes. Yesterday, SOL briefly broke through the range of fluctuations, but failed to gain ground and finally fell back to the fluctuation range, a typical false breakout phenomenon, and needs to wait for a clear stop-loss signal before considering entry. The performance of Ethereum, however, has been extremely strong over the past two days, far surpassing Bitcoin, and has become the leader of the cryptocurrency market.

Ethereum: Strong Support, Strong Bullish Power

Ethereum has experienced multiple pin-like drops over the past two days, twice falling below $3,500, but rebounded quickly and recouped losses. Notably, clear technical signals appeared at the support level during both dips:

• First: Shooting Star - Falling to the support level, forming a shooting star pattern, indicating that the short-term downward momentum has weakened, and a rebound may occur.

• Second: Hammer - Rebound to the support level, forming a hammer pattern, indicating that buying power is strong, intending to prevent further price drops.

• Third: Shooting Star - Ethereum closed green yesterday, forming a shooting star pattern again near the same support level, further confirming the strength of the support level and also demonstrating the strong bullish power.

The appearance of two shooting stars at the same support level is very rare in technical analysis, which also reflects the strength of Ethereum from the side, and the bullish trend is obvious. The daily chart further confirms this judgment, the strong signals are hidden in the chart pattern, waiting for savvy investors to discover.

Difference Between Skilled Investors and Ordinary Investors

Spotting opportunities is often the first step, but whether you dare to enter the market is another key test. Bull market shake-outs are often quite bloody, and many investors, having experienced previous ups and downs, have become timid, hesitating even when they see opportunities, missing out on opportunities in the end.

Bitcoin: Rangebound Trading, Creating Opportunities for Altcoins

In contrast, Bitcoin's performance appears relatively weak, constantly setting new lows, but this does not mean that Bitcoin's overall performance is weak. Compared to Ethereum, Bitcoin is currently in a large range-bound trading period, and range-bound trading often creates opportunities for altcoins.

Main Player Deployment, S1 Filing Approval Imminent?

From the chart pattern, it seems that the main player has already taken action. From the reverse deduction of the chart pattern, the approval of the S1 filing may soon come. Many times, media news only accelerates the occurrence of the market, while the main player has already laid out behind the scenes, which is why listening to news to trade often results in losses, because it's always one step behind.

Looking Back, Be Wary of Hype

Looking back at the coins that rose on hype before, as the hype cooled, prices have started to fall, and many investors are trapped at the top. With the strong rise of Ethereum, the upcoming wave of valuable coins will come, after all, Ethereum is the leader of the altcoins, and its influence cannot be underestimated.

Conclusion

The cryptocurrency market is full of unknowns and risks, the above analysis only represents personal views and does not constitute any investment advice. Investment needs caution, do not blindly follow the trend, should make investment decisions based on your own risk tolerance.

Here are some discussions and analyses about the strong rise of Ethereum and the potential impact of the S1 filing approval:

Reasons behind Ethereum's Strong Rise:

• Progress of Ethereum 2.0: The Ethereum 2.0 upgrade aims to solve problems such as scalability, efficiency, and security of the Ethereum network, and introduces a new consensus mechanism, which is expected to have a major impact on the Ethereum ecosystem.

• Development of DeFi and NFT: Ethereum is currently the main public chain in the DeFi and NFT space, both of which have flourished in recent years, driving the transaction volume and demand for Ethereum.

• Increased Institutional Investment: More and more institutional investors are starting to pay attention to and invest in Ethereum, providing strong financial support for Ethereum.

Impact of S1 Filing Approval:

• Accelerate Market Legitimacy: The approval of the S1 filing will help to push the cryptocurrency market towards legitimacy, creating a better environment for industry development.

• Improve Market Confidence: Approval of the S1 filing will boost market confidence and attract more investors to the market.

• Drive the Prosperity of the Ethereum Ecosystem: Approval of the S1 filing will further boost the prosperity of the Ethereum ecosystem, providing support for more innovative applications.

Time Frame for S1 Filing Approval:

There is currently no clear time frame for S1 filing approval, but from the market reaction and action of regulatory agencies, S1 filing approval is probably just a matter of time.

How Investors Should Respond:

• Invest Cautiously, Don't Follow the Trend Blindly: The cryptocurrency market is very risky, investment needs to be cautious, don't blindly follow the trend.

• Implement Risk Control: Implement risk control before investing, set profit-taking and stop-loss points, be neither greedy nor fearful.

• Follow Industry Trends: Follow industry trends related to Ethereum and stay up-to-date on market changes to make appropriate adjustments.

Summary:

The strong rise of Ethereum and the possibility of S1 filing approval both signal that the cryptocurrency market is entering a new stage of development. In the future, the cryptocurrency market will become more regulated, legalized, and mature, providing investors with a wider range of investment opportunities.

Here are some thoughts on the development trend of Ethereum and the cryptocurrency market:

• Ethereum will become an important infrastructure of the digital economy: The strong rise of Ethereum proves its vital role in the digital economy. In the future, Ethereum will continue to drive innovation in the DeFi and NFT space and become the infrastructure for more digital applications.

• The cryptocurrency market will be more regulated: With the improvement of regulatory policies and the increasing maturity of market participants, the cryptocurrency market will be more regulated, providing a safer investment environment for investors.

• Cryptocurrency will be integrated with traditional financial systems: Cryptocurrency will gradually integrate with traditional financial systems, providing investors with more investment options and driving financial innovation.

In the future, the cryptocurrency market will face more opportunities and challenges, investors need to continuously learn and adapt to market changes in order to succeed in competition.