Technical analysis in layman's terms

Key support level: 2746 is not a coincidence!

Buy orders in the chart are like piles of stakes stacked around 2746 (dense transaction area):
2746.74｜2746.77｜2746.76｜2746.75｜2746.74

The main force has continuously taken orders here more than 10 times, equivalent to laying a layer of cement for ETH - breaking through is as difficult as smashing through bulletproof glass!

The culprit of the decline: the ceiling of 2850 is pressing down

2879→2850 range is filled with 'sell orders mountain', every time it rebounds close it gets smashed (latest transaction shows large orders are all at 2746 taking over)

Main force's trick: suppress prices to eat up (first hang sell orders to scare retail investors into cutting losses, then buy low)

Rebound signal has flashed:

Funds are quietly flowing in (+0.85%)

The lower Bollinger band at 2740 forms a double insurance (strong support on the technical front)

RSI value 28 (severely oversold, the rebound probability at this position in the past six months is over 80%)

Conclusion:
2740-2750 is the golden pit! The main force's cost area is here, breaking through equals cutting off their financial path!

Three 'rebound catalysts' on the news front

ETF giant BlackRock increases holdings in ETH

On-chain evidence: its custody address increased holdings by 120,000 ETH in 3 days (worth 340 million dollars), institutions are frantically buying on dips!

Hong Kong Ethereum ETF is set to launch next week

Institutions like Southern Dongying have been approved, with the first fundraising scale expected to exceed Bitcoin ETF (Asian funds are watching closely)

Federal Reserve 'dove' countdown

June inflation data is out (expected to drop to 3.1%), rising interest rate cut expectations will ignite risk assets!


Retail investors' operation red handbook

Two scenarios coping strategy

Scenario ① Drop to the 2740-2750 range:
→ Decisively buy the dip in batches (reference the main force's cost)
→ Set stop-loss at 2720 (to prevent instant spikes)

Scenario ② Volume breakout at 2780:
→ Chase the rise! Target directly at the 'ceiling' of 2850


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