ETH is oscillating and accumulating power, and the long-short game is heating up!
This trend of ETH is simply exciting! From the five-minute chart, the price is stuck at the key position of 2,600 dollars, and the K-line entity is getting shorter and shorter. The long and short sides are competing like tug-of-war, waiting for direction signals!
Technical analysis
The current MA7 moving average 2590 support is effective, but the upper MA30 moving average has been pressed down to around 2620 to form a suppression, which is wrong with the MA30 support 2579 mentioned in the early trading (actually the counter-pressure after the long-term moving average flattens out). Trading volume is more critical-the current five-minute active sell orders are piled up to 22k+, but the estimated volume for the whole day is only 183,000, which is 15% smaller than yesterday. This volume is purely a luxury to rush the 2620 pressure level.
Sudden market variables
In the early morning, the Ethereum core team suddenly announced that the "Shanghai upgrade" liquidity extraction function was postponed, which directly disrupted the rhythm of the bulls. On-chain data shows that the whale address has a net outflow of more than 68,000 ETH for two consecutive days, but the Grayscale ETH Trust premium rate has rebounded to 1.2%, indicating that institutions are accumulating funds during the volatility.
Comparison of long and short forces
The price is now stuck in the 2591-2600 range. The shorts have piled up 32,000 sell orders at 2600-2610, and the longs have only hoarded 18,000 counterattack forces at 2580-2590. MACD hourly line dead cross, RSI is pressed to 42, short-term bearish but no panic trading, which is a classic wash-out method of the main control.
Violent change window
Now standing above 2600 are all death squads, and falling below 2580 will trigger a stampede of programmatic trading. Focus on the chip exchange area of 2600-2610. If it stands at 2605 for 15 consecutive minutes and the volume breaks through 250,000, it is not a dream to violently pull it to 2800; on the contrary, if it falls below 2580, it will accelerate to 2550.
Death turnover warning
The current pressure of locked-in disk is amazing. There are more than 520,000 ETH piled up above 2600, which requires at least 3 times the current volume to digest. It is recommended that short-term players do not touch the range shock. The real big market will wait for the Fed's interest rate decision. Entering now is to send bullets to the main force.
ETH's long-term logic is fine, but it is not easy to pass this level in the short term. The main force set the battlefield in the dense area of retail stop-loss disks. Now it is more important to stand in line than technical analysis-either hold it and wait for a breakthrough, or stop loss early to save your life.
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