ETH's price is hovering around 3260 USD, and the market is a bit stuck, but opportunities often hide in such fluctuations. I just looked at the ETH 1-hour chart analysis, and the 4-hour level has not yet broken through the resistance level of 3380, indicating that both bulls and bears are in a fierce battle. Don’t panic, Sister Xin will break it down for you!
News support: ETF and upgrades are favorable, market sentiment is recovering
On the news front, there have been positive developments recently! It is said that the U.S. SEC has made new progress in the review of the ETH spot ETF. Although there is no final conclusion yet, institutional funds have quietly begun to position themselves, which adds fuel to ETH. Additionally, after the Ethereum network upgrade, Gas fees have decreased, transactions are faster, and user activity is increasing. These fundamental positives indicate that the long-term value of ETH remains unchanged, and the short-term fluctuations are just normal adjustments.
Additionally, the global macroeconomic situation is slightly easing, and the Federal Reserve may slow down interest rate hikes, which is favorable for risk assets like cryptocurrencies. Sister Xin believes that the news and technical aspects are in sync, and ETH may first fluctuate before choosing a direction. Retail investors shouldn't be scared off by noise; there's no major negative news in the current market, mainly just a technical adjustment.
Technical analysis: support and resistance are key; be patient for signals.
From a technical perspective, the 1-hour chart for ETH shows that the price is consolidating around $3260, and the 4-hour chart hasn't broken through $3380, which is an important signal. Simply put, $3380 is like a door; if we can hold above it by the end of the 4-hour session tonight, the short-term bulls may gain strength, and we can try a small long position, with the first target at $3450. If we can break and hold above $3450, the next target is $3600, where there is significant resistance, and a pullback may occur, so be cautious around $3600; don't be greedy.
On the other hand, if the price doesn't break through and instead pulls back, we should wait for a second bottom around the support range of 3150-3050. This range is strong support, like a floor; it's easy to bounce back from here. Sister Xin suggests that if it pulls back to this range, you can build a position for a rebound.
Remember, the most important thing in cryptocurrency trading is discipline; don't chase prices up and down. The lines show that the current market is consolidating, and both breakouts and pullbacks present opportunities, not risks.
Sister Xin's view: in the short term, expect fluctuations; a breakout is imminent, and retail investors should focus on stability.
My view is that ETH is balanced around $3260, but the probability of going up is higher. Why? Because the news is favorable, and the technical support is strong. If we can break $3380 tonight, it may initiate a small bull run, with initial targets at $3450-$3600. However, if it drops and tests the bottom again at $3150-3050, it could be an opportunity to buy the dip.
Sister Xin reminds you that when trading cryptocurrencies, don't risk your entire fortune; it's most important to start with a small position. In the current market, it's suitable for swing trading: take profits and don't hold onto losing positions. A common mistake among retail investors is being emotional: chasing when prices rise and cutting losses when they fall. We need to be smarter and stick to our plan.
What should retail investors do? Get interactive!
Sister Xin's perspective is to patiently wait for signals and not rush. If you are also a retail investor, feel free to share your thoughts in the comments: do you think ETH will break through or pull back tonight?
If you don't know how to time your trades, you can follow Sister Xin, who will provide real-time analysis in the village and give the best entry points.
