Looking at the 4-hour chart of Ethereum, the bottom formation has already taken shape. The fourth wave of decline has basically come to an end, and according to the common rule in the crypto circle—things rarely go beyond four—this logic also holds here. At this price level, for long-term holders of spot assets, the value for money is quite good. You can definitely build positions gradually without rushing in all at once.

If another upward wave comes later, Ethereum is unlikely to be absent, and it’s very likely to be a spectacular one. The key is that the position is already quite defensive; at worst, it will continue to oscillate, and the upside potential is relatively more worth looking forward to.