Is $ETH now preparing for a big rise or playing dead while moving sideways around 2500?
Based on the current ETH market, my judgment is simple and brutal. It's now fluctuating around 2536 USD, down 0.2%, purely weak oscillation.
Today, just focus on the key positions. The lower support level at 2524 is a solid bottom; if it breaks, it will definitely accelerate the decline. The two big mountains above are pressing down on the 2540 area, with MA30 deadening at 2548 and MA7 suppressing it.
If we can't break 2545 today, there's nothing to see. The MACD green bars are peeking out, but the dual lines are still below water, indicating the bears are just taking a breath. Any rebound is merely an opportunity for you to run away. What's more heartbreaking is the shrinking volume; there are hardly any participants following the market.
Recently, the Bitcoin ETF has crashed the overall sentiment, and ETH has no substantial good news. All bloggers are reminding of the risks; don’t rush to catch falling knives.
In the short term, a turnaround is only possible if suddenly there’s significant news about a layer 2 upgrade or institutional buying spree—otherwise, this downward trend will at least last for two weeks. Remember, the core contradiction now is the technical bearish pressure combined with a news vacuum period.
Long-term, I am optimistic about ETH's true value. If it can solve the network congestion and gas fee issues, it will take off directly. The target of 2800-3000 USD is achievable. The underlying technology is solid; focus on the actions of Vitalik's team in the second half of the year.
The strategy is clear now. Don't get itchy fingers today and rush in. If you really want to act, place an order below 2520 to buy, but it must come with a stop loss. A breakout above 2550 is necessary to confirm a trend reversal. Just be patient and wait for the market to give opportunities before acting.
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