ETH had a perfect month, but it broke the support level just as quickly on Apr .11, creating a bearish confirmation. We mentioned in the last two reports that ETH’s original performance was very similar to the start of bullish channel last year (blue area). This time, it should be noted that the strong bears last week was not a simple pullback. Compared with BTC , ETH has the advantage of bulls, and the adjustment time may be prolonged due to the obstruction of bears. The overall trend is upward.
Conclusion: Mostly fluctuation, and it is more likely to rise after fluctuation. Judging from the performance of this week, it does not affect the previous excellent score of ETH. This pullback just tells us that the bearish power still exists, but whether it will affect the larger-level trend is uncertain. It is more likely to fluctuate in a range this week, with the resistance at 3290 and the support level at 2870.

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