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You can't rely on Ethereum for this market; if you want to trade Ethereum, you must watch Bitcoin.
This round of decline is completely predictable; Ethereum indeed hasn't risen enough.
But Bitcoin's weekly chart shows a top and a pullback, and Ethereum is not able to break out on its own.
Even if it hasn't risen enough, it's following Bitcoin, so this round of Ethereum's five-day moving average support can't hold up; we need Bitcoin to reach the five-day support before a rebound can happen together.
From the perspective of Bitcoin's weekly top and pullback, it should go to around 63,000-65,000, and if it can't hold, it will continue downward.
So, for Ethereum to go long and catch a rebound, it's best to wait until Bitcoin drops to the five-day support before entering.
Ethereum is around 1,850-1,930.
Bitcoin is around 70,000-70,600 $ETH (five-day bottom support).