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After criticizing $ETH, let's analyze the ETH market. On July 10th, I mentioned that ETH is likely to become the leader among altcoins, mainly due to technical indicators, including moving averages, performing very well. Currently, ETH has broken through 3100, and theoretically, there is no resistance level left. As long as it stays above 3050 in the short term, it will be fine. I have really been fooled by ETH. If I have to mention resistance, it would only be near the previous high of 4120-4150. The range of 3400-3500 will come soon. Moreover, ETH has some interesting dynamics now, with some institutions buying aggressively while some whales continue to sell. The large turnover of ETH is still ongoing. As everyone can see from the news these days, the large turnover of ETH is very frequent, with intense long-short battles.
If ETH has a major upward wave this time, the logic will be the same as BTC, still not the narrative within the circle, and the institutions outside the circle investing in BTC follow the same logic, leaning more towards asset allocation rather than internal innovation in the industry.