Beware of the high-level "false support" trap at $ETH
The current Ethereum market is at a critical turning point, with hidden secrets around the 1800 level.
From the chip distribution perspective, this price level has neither a dense holding position nor a pile of profit-taking, resembling a seesaw suspended in mid-air that can easily break the balance with a slight push.
Recently, the support level has only deviated 0.21% from the current price, equivalent to having a spring underneath the 1800 dollar level, which could trigger a strong rebound with even a slight touch.
Technical indicators reveal two important signals: the MACD green bars are continuously shortening, indicating that the bears are running out of bullets, like a deflated ball that can't bounce.
The RSI value has dropped below 30, equivalent to the market sentiment thermometer showing "freezing point"; at this time, it often just takes a spark for a rebound.
More noteworthy is that the KDJ has just formed a golden cross, a signal that triggered a 15% increase when it appeared at the end of March.
From the perspective of the main force's movements, there is a threefold game near the 1800 dollar mark: one is the whale group that built positions in July last year with an average cost of 1850 dollars, who are likely to replenish their positions at this level; the second is that the MACD indicator has started to flatten below the zero axis, and this "underwater golden cross" is often accompanied by a violent rebound; the third is that the hourly chart trading volume has suddenly increased to 1.8 times the usual level, indicating that funds are secretly accumulating.
Focus on two key nodes: if the volume breaks through 1830 dollars, it is highly likely to challenge the strong resistance area at 1900 dollars.
If it unexpectedly falls below 1750 dollars, one should be wary of a possible dip to the historical support level of 1690 dollars. The current market is like a spring compressed to the limit, and a change may occur at any time.
The current situation is like a red-hot iron block; be cautious when touching it.
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