Gas fees drop below 3 Gwei, ETF stalls! Whales quietly accumulate at this time!
The market is like a game of chess, every move is strategic. Today's ETH market hides mysteries in the tussle between bulls and bears!
1. Latest news: A mix of bulls and bears, ETH performs a "high-wire act"
1. On-chain data anomalies: Early morning on-chain monitoring detected a whale address transferring 32,000 ETH to an exchange, showing clear short-term selling pressure signals. On the other hand, ETH2.0 staking is steadily increasing, and long-term believers are still locking in their assets, leading to intense confrontation between bulls and bears.
2. Macroeconomic sentiment disturbance: Federal Reserve expectations uplift risk assets, but ETH on-chain gas fees are sluggish (average price below 3 Gwei), with insufficient ecosystem activity and a lack of short-term breakout points.
2. Technical analysis: Golden cross meets cold reception, volume is a drag
1. Price and moving averages: Current ETH price is $2675, the 30-minute level is stuck below MA5 and MA10, with heavy pressure above. MA5 crosses below MA10, short-term bulls are suppressed, and a rebound needs to break through the moving average confinement first.
2. MACD indicator: DIF (24.68) golden crosses DEA (20.88), but the MACD bar is only +7.6, indicating weak upward momentum, categorized as "passive bullish," far weaker than the previous strong trend.
3. Truth of trading volume: Actual trading volume is 126,000 ETH, down 20% from the estimated volume (156,000), and is being crushed by the 5-day average volume (161,000) and 10-day average volume (171,000), showing a clear divergence in volume and price, with upward movements resembling a "limping run," prone to sharp pullbacks.
Key on-chain signals: Exchange ETH reserves have dropped to a 4-year low, showing clear signs of long-term accumulation, but short-term caution is needed against whale selling pressure.
Remember! Making money in a bear market relies on being cautious, while making money in a bull market relies on having vision! I am Chan Zhong Tan Zen, providing top-tier technical support, only serving those with vision and ambition!