ETH Tonight's Life and Death Game! Bounce Back or Deep Squat?
Has $ETH been on a roller coaster again today? The price is hovering around 2518, down 0.34%, with both bulls and bears pulling fiercely under the resistance levels of 2540-2570.
On the 4-hour chart, the price is stuck between the 50 EMA and 100 EMA, and the lower Bollinger Band at 2456 feels like a lifeline, yet the trading volume has piled up near 2520 — what does this indicate? It suggests that both bulls and bears are hesitant at this position, and no one dares to make a big move!
The RSI has shown a bearish divergence, the MACD line is as flat as a bed, and the DMI indicator is even more straightforward, with the +DI and -DI lines almost hugging each other. Isn’t this the market saying, "Stop guessing, I’m confused"?
But don’t panic, the support level at 2480 is firmly held by buyers, and liquidity charts confirm this, indicating that the downside potential of this drop may be limited.
What about the fundamentals? Ethereum's Pectra upgrade is coming soon, Layer-2 block space is set to double, and staking volume has surged to 27%, with annual returns of 3-4%. Once this deflationary model kicks in, ETH will only burn less and less. The locked value in DeFi is 46.3 billion, and the weekly sales of NFTs have increased by 28%. With this ecological vitality, how bad can ETH be?
So, now is the calm before the storm. Either break through 2540 and head straight for 2600, 2660, or even 2710; or drop below 2510, retesting 2480, 2438. But in the long term, with technical upgrades + institutional ETF entry + deflationary model, this combination of punches may lead ETH to significant developments! You ask me which side I’m on? I’m just holding my coins tight, waiting for the wind to come!
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