According to today's $ETH one-hour K-line chart and the latest market dynamics!
The current market presents a typical pattern of bulls and bears battling, with prices repeatedly testing below the key resistance level of 2788.88.
The range of 2312.62-2491.12 below has formed a dense support zone; if this position cannot hold, the bears may directly break through the psychological level of 2300 points.
From a technical perspective, the MACD indicator shows a DIF value of -5.50 and a DEA value of -7.38. Although the current MACD value of 3.75 shows a positive value, the continuously shrinking histogram pattern reveals that the bullish momentum is weakening.
This divergence signal usually indicates that a turning point is approaching in the crypto space. Coupled with the recent trend of large bearish candlesticks in the last 4 hours and shrinking volume, market activity has clearly cooled down, and retail investors are waiting for a directional choice.
On the news front, it is worth noting that a certain whale cleared out 1290 ETH half an hour ago, combined with the recent divergence phenomenon of continuous net inflows of ETF funds,
indicating serious internal disagreements among large holders. Even more concerning is that after the KDJ indicator's death cross, the K value reached as high as 85; this overbought state often becomes a navigation tool for bearish missiles in a weak market.
My personal judgment is that this rebound is just a self-rescue operation by the main force. If the position of 2788.88 cannot be held within three days, it is highly likely to replicate the waterfall market on May 29.
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