Investment analyst Mike Zaccardi says he will repurchase Ethereum this week, believing the correction may be coming to an end.
According to ChainCatcher, citing CriptoNoticias, US investment analyst Mike Zaccardi stated that he will repurchase Ethereum (ETH) this week, after previously selling part of his ETH ETF position for tax reasons.
Zaccardi pointed out that technical indicators show that "the correction may be coming to an end," and ETH has shown strength relative to bitcoin for the first time since August. He mentioned that after approaching $5,000, ETH dropped 47% within three months, once falling to the long-term support level of $2,600. The analyst believes that the Relative Strength Index (RSI) has broken through the downtrend line, which could be an early signal of a price increase. Although $4,100 remains an important resistance level, he sees possible signs of stabilization. From a seasonal perspective, Zaccardi noted that historically, ETH has performed strongly from December to May, while volatility is higher from June to November. He plans to keep his ETH ETF position at 0.5% of his portfolio.
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