The technical chart of #ETH巨鲸增持 shows a clear double top formation, which usually indicates a depletion of upward momentum. It is worth noting that the Spot price has surged by 2400% from the bottom range—behind such an astonishing rise, a large number of Mining Rig sellers are cashing out their chips at high levels.

This evokes the trend of FIL back in the day. When the heat was at its highest, smart money quietly retreated, leaving only a game of speculation among retail investors. Market attention has significantly cooled, and the intensity of capital inflow is nowhere near what it used to be.

From a technical perspective, the trend of oscillating downward has been established. Even if a short-term rebound occurs, it is more likely to be a trap for the bulls rather than a trend reversal.

For risk-takers, shorting on the rebound may be a more reasonable strategic choice at the moment. The short-term target range can focus on $200-$300, while looking at the long term, a range of $50-$100 is also not impossible. Of course, the cryptocurrency market is highly volatile, and any operation requires strict risk control.

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