Market News
On March 26th, according to Lookonchain monitoring, a whale spent 854 ETH (3 million USD) at an average price of 0.01 USD to purchase 301.77 million DEGEN within the past 6 days, becoming the seventh largest holder of DEGEN.
On March 26th, according to the official announcement, ether.fi has reached a cooperation with the decentralized smart contract engine Aethos, providing a security support of 5 billion USD worth of ETH for the latter. At the same time, ether.fi will use Aethos's strategy engine AVS to ensure the security of the ether.fi protocol.
On March 26th, according to Farside Investors data, BlackRock's IBIT saw a net inflow of 35.5 million USD yesterday, resulting in a net inflow of 15.4 million USD for Bitcoin spot ETF, ending the previous 5-day net outflow status.
Market Review
In yesterday's article, it was mentioned that the correction has ended, and one could go long after the pullback. The lowest point yesterday was in the range of 66500-66800, meeting the expected support mentioned in the article. The upper side also reached near 71200, just a little short of our second resistance, but not far off. The actual profits in the market are all above 4000. Currently, the market has returned to above seventy thousand. Will it further reach new highs?
Market Analysis
From the four-hour chart, it can be seen that the bulls have broken through the strong resistance of 69500-69000, which is also near the upper rail of the entire box, echoing the previous four-hour uptrend. As mentioned in the previous macro analysis, there are no major bearish factors in the short term, so the previous decline was just a pullback. It is very likely that there will be a four-hour box oscillation at the moment. Once it breaks through, it will trigger a new round of uptrend. At the same time, there are still two months until the interest rate cut in June. These two months may be the period with the strongest interest rate cut expectations. Therefore, from a macro and technical perspective, stabilizing at 71500-72000 will mark a new high, with downside targets at 75000/78600/82000, and 90000. Short-term support is around 69500-69000. Pay attention to the rotation of the altcoin sector, and be cautious in your operations.
Exercise caution when entering the market, as trading carries risks.
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