Tonight, I'm focusing on the 1-hour K-line chart of ETH; I'm more nervous than watching a horror movie! Let me highlight the key points for you, technical key levels, whale's operation, plus my practical predictions. After reading this, you'll have a clear idea for your operations tonight!
News:
The key point has arrived! Last night, Odaily broke a big story: a whale/institution sold 10,000 ETH for $3,597 each, making a profit of $2.93 million; then in the last day, they bought back nearly 20,000 ETH at an average price of $3,200, spending $63.82 million! To sum it up, this trading wave has already made nearly $100 million!
Whale money doesn't come from thin air; what does this operation mean? I think there are two possibilities: one is that they really believe $3,200 is a bargain and want to stock up for the next bull market; the other is to play 'buy high, sell low'—buy back now, wait for a rebound to $3,350 or even $3,400, then sell for a profit.
But regardless of the situation, it's a signal for players: there is substantial capital supporting around 3200, and the probability of a direct plunge below 3000 is low; however, the giant whale is not foolish. If it rebounds to the resistance level, they might sell again.
Technical aspect: 3270 is a hurdle, MACD golden cross but not strong enough.
First, look at the hourly chart. The current ETH price is hovering around the critical level of 3153, with 3270 above like a small mountain, which is the first hard resistance for a rebound. Further up at 3350 and 3400, there are previous high trapped positions, and without certain volume, it can't push through.
Looking at MACD again, the white and yellow lines are crossing upwards below the 0 axis, which is a short-term stop-loss signal, but be careful! The golden cross below the 0 axis is like a 'wolf that hasn't eaten enough'; the rebound strength is limited. To put it simply, it's like a person who has just recovered from a fever but is not completely well. They can get up and walk a few steps, but can't run fast.
Jin Min's opinion is very clear: two scenarios tonight, players should follow this!
The 3270 resistance level must be closely monitored tonight!
Optimistic scenario: Break through 3270 with volume, rush to 3350! The giant whale is supporting at 3200, with solid buying pressure below. If ETH breaks through 3270 with volume, that is a signal for a bull counterattack!
Pessimistic scenario: Softly stuck below 3270, retreating to 3100-3000! If the trading volume remains low tonight, it indicates that the bulls lack confidence. Although the giant whale is supporting the bottom, there are too many trapped positions above, and once the selling pressure surges, the price may drop back to 3100, or even test 3000.
Operation suggestion:
For those wanting to catch the bottom: light positions to try long, stop loss at 3150! The current price is around 3153, which is a key support level. If it stabilizes at 3153 tonight, the probability of a rebound is high; but if it breaks below, it will likely look for support at 3000, and you must run at that time!
For those wanting to chase the rise: wait for a breakthrough at 3270 before acting! If it doesn't pass 3270, it’s all a false rebound. If it truly breaks through, it's not too late to follow; initially target 3350, and remember to reduce your position when you get there.
Don't be greedy! Even the giant whales play in waves, players shouldn't think about 'eating from start to finish.' Running away with a 10%-15% profit is better than riding a roller coaster!
I am watching the market. If it breaks through 3270 with volume tonight, it is very likely to touch 3350 tomorrow; if it softly sticks below 3270, the probability of retreating to test 3153 or even 3000 is high.
Want to know the specific operation points? Want to know immediately if the giant whale continues to act? Click to follow, comment 'ETH' in the comment section, and I will send you tonight's position table and stop-loss reminders! I will review in 'Jin Min Village' and help you seize the next opportunity; Jin Min never hides anything!
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