$ETH Shrinking volume and oscillation, a showdown between bulls and bears is imminent
The current price is around 2516.5, seemingly above the first support level, but if you look closely, the buying power is weak — the buy-sell ratio is 0.95, indicating that there are slightly more sellers than buyers. This support level feels flimsy, like it's made of paper, and could be broken at any time.
Even more disheartening is that trading volume has shrunk to its lowest level in recent times; the market is as cold as the Arctic, with funds watching from the sidelines, and no one wants to enter the market to test the direction.
The technical aspect is a mess: the 6-hour candlestick has formed a doji, which typically represents market confusion. However, combined with EMA24 (short-term moving average) crossing below EMA52 (long-term moving average), it clearly indicates that the bears have taken control of the steering wheel, and the medium to long-term trend is clearly downward.
Looking at the RSI, although it barely stands above the 50 midline, it’s as weak as if it hasn't eaten, completely unable to drive a rebound; it’s merely a bluff.
My view: now is definitely not the time to be reckless! If the position at 2500.5 cannot hold, the next target is directly at 2465.5, which could even trigger a cascading drop.
Refer to the previous case when BTC broke below the psychological barrier of 100,000 USD (at that time, ETF funds were fleeing chaotically, directly leading to a collapse in sentiment); breaking through such key levels often results in a bloodbath.
Remember, those who survive in a bear market are “ninjas,” not “brash fools.”
Are you trapped? When to bottom fish? Once again, if you feel confused and helpless about what to do, click on the profile picture to comment. I need fans, and you need references.
