‘Under the waterfall, one sees the support; amidst the fluctuations, hidden turns lie. This deep squat of ETH tests the quality of the key levels!’
Brothers, today ETH staged an annual action drama! During the day, it directly dropped from the highest 2879.00 USDT to a low of 2379.62 USDT, with a daily volatility of nearly $500! This wave of both long and short kills let contract players collectively experience the thrill of skydiving without a parachute. This is not just a pullback, it’s a violent washout!
Combining this latest hourly candlestick chart and real-time data (the latest transaction price has been updated to 2537.64 USDT, the data on the right side is very clear), let’s analyze the key points:
False breakout confirmed: The 'pillar' that surged to 2879.00 in the morning seemed fierce, but in reality, it hid dangers — the trading volume clearly shrank, a typical no-volume false breakout! MACD had already shown signs of fatigue (the yellow and white lines were stuck together weakly, and the red bars were thin), laying the groundwork for the plunge.
The culprit of the crash: profit-taking + external storm: The internal reason is definitely the huge profit-taking from short-term accumulation. The external factor is the collapse of US tech stocks dragging down the market, combined with news of a large amount of ETH collateral being pre-liquidated or assessed, triggering panic instantly!
2379.62: The 'golden needle' level fiercely defended by the bulls! Attention! After the lowest point accurately hit around 2379.62, the market quickly pulled out a super long lower shadow! Combined with the data showing a sudden massive support at the bottom, this strongly indicates that there is a strong consensus of support in the 2380 area! It could be institutions bottom-fishing or previously sidelined funds entering the market heavily.
Current deadlock: Moving averages in a tug-of-war, MACD on standby: The current price is oscillating around 2537, being firmly suppressed below 2550-2600 by several entangled moving averages (EMA). The MACD indicator below: the red and green bars are continuously shrinking, the dual lines are close to flattening, energy is weak, and the direction is unclear — the market needs to catch its breath after the crash, waiting for new stimulating factors.
Tycoon’s speculation:
After this level of deep squat, the probability of a direct V-reversal in the short term (today and tomorrow) is low. It is more likely to build a fluctuating platform in the 2380 - 2600 range. Don’t be scared by the crash, and don’t let the rebound cloud your judgment!
Why dare to say that the 2380 area is a key support? Here’s a real example: Last March’s flash crash, ETH also broke through the critical psychological level and was bought back aggressively by whales with massive orders within minutes, forming a textbook 'golden needle bottom'. Later, it rebounded over 30%! The repeated validation of key levels reflects market consensus!
Tycoon’s operational tips for friends:
Sprinter (playing with volatility): The 2380-2400 area is today’s 'golden defense zone', can try a small long position (stop loss below 2370); the 2580-2630 area is the upper pressure zone, reduce positions or try a short (stop loss above 2660) when approaching. Watch more and act less in the 2500-2550 range, don't become cannon fodder!
Long-distance runner (holding cash): Below 2450 is a rare opportunity for regular investment/increasing positions! Stick to entering in batches and widening the price gap (such as entering one position every $50 drop). I’m optimistic about ETH’s future (Cancun upgrade + expectations for a spot ETF), a deep adjustment is just a chance to acquire more chips!
The 'golden needle' at 2379.62 has been pierced, is it a trap or an opportunity? Can the bull defense line be as solid as a rock? Brothers, did you buy in at 2379, or did you fall halfway? Share your cost price and today’s great operation in the comments!
The iron bottom at 2379 has been firmly established! The precise ambush point at 2537 is exposed! The main force's hanging orders have turned positive +0.36%, the explosion of the upper chip peak from liquidation — tonight at 23:30 we will target the previous high of 2879 in the group! Don’t be slow, or you’ll regret it!