Regarding the ETH exchange rate, you can clearly see on the weekly chart that it's still being suppressed by this long-term descending trendline. This week saw a slight pullback, and there’s still no breakout. This lines up with the expectations mentioned in the quote: previously, whales rotated their positions, which pushed the exchange rate higher; meanwhile, ongoing ETF and spot buying has driven up the USD price. But now the real question is: how much of these three core sources of ETH buy pressure are actually left?
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That $1M spot position on #AAVE didn’t get filled, so I’m just holding my regular size for now. Next upside targets are $352, $377, and $436.70. As for whether we’ll get another “golden dip” for me to load up big, there’s no way to know in advance—just have to follow the price action step by step.
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The $RICE Supercharger snapshot is in less than 24 hours Make sure your $TOKEN is staked if you want to take part.
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