$ETH Flash Crash! Whales Set a Liquidity Trap!
Ethereum has been fluctuating around 1830 in the past few days, with both bulls and bears in a stalemate. Although the hourly chart indicates potential for an upward movement, the continuous shrinkage in trading volume suggests a strong wait-and-see sentiment in the market.
The appearance of a Morning Star and Doji patterns on the candlestick chart implies that the current direction is unclear, and it is highly likely that the market will continue to maintain a fluctuating pattern in the short term.
Bitcoin has repeatedly faced resistance at the 95000 level, with multiple attempts to rise proving unsuccessful. The high-level oscillation on the daily chart has been ongoing for some time, and the risk of a pullback is accumulating.
The 4-hour MACD indicator operates in the negative region, with the fast and slow lines about to form a death cross, and the RSI is also in a weak range of 42.71, all indicating that adjustments may continue.
In terms of correlation, Ethereum's movement is clearly affected by Bitcoin, and while it is relatively resilient, the difficulty of a standalone rise is significant under the currently weak environment.
The key point is to monitor the support strength around 1800; if it is broken, it may test the 1750-1720 area, while the 1830-1850 USD range above poses significant resistance, and a breakthrough is needed to unlock new upward potential.
The market is currently in a sensitive period, and it is advised to remain cautious.
With interest rate cuts approaching, I plan to publicly lay out a speculative coin, expecting a tenfold increase in the short term and a hundredfold in the long term. With the same market conditions and top strategies, follow along to witness everything.
