Stunning Revelation! The Life-and-Death Battle Behind Ethereum Prices: Is It a Bull Market Explosion or the Eve of a Crash?

Ethereum (ETH) is currently fluctuating between $2550 and $2700, and market sentiment is at a critical turning point.

Key Support: Around $2618, strong buying area at $2530-$2535; holding this level indicates a bullish outlook in the short term.

Important Resistance: Starting at $2692, $2750-$2900 is the key breakout zone; breaking through will trigger a new wave of upward momentum.

Technical signals indicate a bullish short-term trend, with prices above the short-term moving averages, but the declining 200-day moving average warns of long-term risks. The Relative Strength Index (RSI) has reached as high as 64 and even 77, suggesting the possibility of overheating in the short term, with adjustment risks at any moment. The MACD continues to issue buy signals.

Analysts are generally cautiously optimistic, believing that network upgrades and institutional funds are the dual engines driving the rise. If Ethereum breaks through the $2750-$2900 resistance, the price could head straight for $3000, $3200, or even challenge the $3700 mark after confirming a bull market mode.

However, there are also many warnings: in the short term, a pullback may occur due to overbought conditions; if the support at $2500 is broken, the target may drop to $2400 or even $2300, waiting for buying interest to reignite.

Ethereum is now a battle of offense and defense; whether the bull market explodes or corrects is eagerly awaited by the market.