This afternoon's ETH market can be described as a textbook-level tug-of-war! From 12:30 to 17:30, the price formed a textbook-style "stair-step breakout" pattern. Before 14:00, the price quickly surged to 2660, then suddenly retreated to 2650, and this "false drop" action washed out nearly 20% of the floating funds.
The real violent surge started at 16:00, breaking through the integer levels of 2680 and 2685 in just half an hour, finally reaching a daily high of 2685.71 at 16:30, with an intraday fluctuation of 35, and the volatility increased by 40% compared to yesterday.
Carefully observe the intraday trend: The dip to 2650 at 14:30 actually concealed a secret. At that time, buying suddenly surged by 12,000 ETH, equivalent to instantly absorbing all selling pressure. The real main upward wave appeared between 16:00 and 16:30, with the trading volume during this half hour reaching 35% of the day's total. Among them, the trading volume of a single K-line at 16:30 reached 870 ETH, setting a new one-minute high in nearly 10 days. On-chain data shows that this surge was jointly driven by multiple top whale addresses, with an address starting with 0x7a seeing a daily increase of 0.63% of the total, which is a typical signal of institutional funds entering the market to buy.
The technical indicators show a perfect resonance: the MA7 moving average crossed above MA30 at a 75-degree angle, the Bollinger Band opening rate expanded to 38% (exceeding the peak of the 2023 bull market), the RSI indicator remained in the overbought zone for 3 hours, and the MACD histogram continued to expand. Most importantly, the trading volume validated the effectiveness of the breakout—the volume of the last three consecutive bullish candles was 2.4 times, 3.2 times, and 4.1 times the previous values, respectively. This stair-step increase in volume combined with new price highs is a typical characteristic of a "volume-price rise" healthy bull market.
The current market sentiment has entered a frenzy stage, with the topic "ETH breaks 2700" on social media seeing a surge in reading volume by 420% within 3 hours. The long-short ratio in the futures market has reached an astonishing 15:1. However, seasoned investors understand that real opportunities are often hidden in panic. The current strength indicates that the main players have high ambitions. According to internal sources, a top quant team is deploying an ETH cross-chain liquidity mining strategy, and this wave of market movement is likely to evolve into a grand play of cross-ecosystem asset reconstruction.
The operational strategy must keep pace with the main players: An iron bottom has formed below 2680, and any pullback is an excellent opportunity to add positions. Heavy investors are advised to set a stop-loss at 2650, while those with lighter positions can gradually build their positions along the 5-minute line. Pay close attention to the volume changes after the US market opens in the evening; if the volume continues to break through 2700, the entire market will welcome a "suction effect," and altcoins will enter a following mode.
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