Bloodied Ethereum: Can the 2450 Defense Line Maintain the Dignity of the Many?

​​Market Review: Institutional Sell-off Triggers a Crunch​​

This morning, the ETH/USDT perpetual contract performed a guillotine at the 2487 position, plunging to 2450.62 in just two hours, with a maximum intraday drop of 2.3%

The current price is weakly fluctuating around 2488, with a death cross between MA5/MA10 on the 4-hour chart resembling two sharp blades hanging overhead. The lower Bollinger Band has shifted down to 2438, and the daily MACD green bars continue to expand—these are all ironclad evidence of the bears controlling the situation.

​​Operational Strategy: Wait for Right-Side Signals​​

Short-term resistance has shifted down to 2495, and an effective breakthrough of this level will trigger a strong liquidation of $120 million short positions on the 5-minute chart. Conservative traders are advised to observe the 2450-2495 fluctuation range; if it falls below 2430 with volume, decisive stop-loss is necessary. Conversely, if it stabilizes at 2520, it can be seen as a signal of trend reversal.

(Tonight's key focus: 21:30 U.S. PPI data release, which may become the catalyst to break the deadlock)

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