How to Break the Deadlock When the Main Force of $ETH is Escaping!
Currently, the ETH price is stuck in a narrow range of 2300-2500, with a large amount of historical trading chips piled up in the 2000-2100 area, supporting the price like cement blocks.
But moving upwards is awkward; around 2550, it’s like a magnet, with less than 3% space to the current price, but it is filled with goods trapped since March this year, making breakthroughs as challenging as a hundred-meter hurdles.
Recently, the 90-minute candlestick chart has continuously shown three small bearish candles, and the trading volume is shrinking like a deflated ball; this "black three soldiers + shrinking volume" combination is like a truck with failing brakes, making the downtrend increasingly evident.
What’s more troubling is that the EMA24 and EMA52 moving averages have formed a death cross, pulling the short-term trend down like being tugged by two ropes.
Key positions to observe: the lower area around 2300 is the last defense line for the bulls; if it breaks down, it may trigger programmatic trading stop-loss orders.
The upper area around 2550 is densely packed with trapped orders; a breakthrough requires at least $2 billion in trading volume. Right now, market sentiment feels like the muggy air before a storm; investors are advised to closely watch the opening of the U.S. stock market tonight.
If the price can break through 2550 with increased volume, it may open a rebound channel.
Conversely, if it loses 2300, it may dip to 2150 seeking support in the short term.
The current market situation is like boiling water at 95 degrees; it could boil over at any moment or suddenly cool down. Those analysts who advocate for "precise bottom fishing" are like mapping out a minefield—looking professional, but one wrong step could lead to a bottomless abyss.
Are you trapped? When will you bottom fish? It's still that saying: feeling lost and helpless not knowing what to do, click on the profile picture to comment. I need fans, you need references.
