In the previous period, ETH fell all the way to 2373, which can be considered as creating a short-term "golden pit". After that, it began to oscillate and climb, with the MA7 moving average (blue line) catching up from below and forming a golden cross pattern with the MA30 moving average (yellow line), directly pushing the price upward, peaking at 2647. This wave of long positions has set the rhythm.

After the price surged to 2647, although there was a pullback, it did not fall below the MA7 moving average, but instead stabilized in the 2540 - 2560 range. What does this indicate? The short-term support is effective, and the long positions are not planning to give up directly. If it can continue to stay above the MA7 and even break through the previous high of 2647 again, this wave of increase may continue.
However, it must be said that after a surge, the long upper shadow indicates that there is considerable selling pressure above. If market sentiment worsens, or if ETH itself "loses strength", it is very likely that it will retest the support level. Especially the MA30 moving average (around 2545); if it falls below that, the short-term trend may weaken, and one must be cautious of the risk of a pullback.
In terms of positions: For those with significant profits, you can keep some base positions, set a stop loss (for example, withdraw if it falls below MA30), and follow the trend to gain some benefits.
This wave has been relatively rhythmic, but the cryptocurrency market changes quickly, so you need to keep an eye on the moving averages and key levels, don't get dizzy from short-term fluctuations (still the same saying, take responsibility for your own investments, happy if you earn, don't blame others if you lose) #biy can provide you with **efficient, secure, and low-cost** cross-border payment solutions!
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