ETH's 4-hour battle is heating up! The main force's support orders reveal a key defense line

Today's ETH market is buzzing with activity! The 4-hour level is fiercely contested around 2426 USD, and the large order data reveals the main force's true intentions—large support orders are densely piled up in the 2424-2426 range, forming a solid defense line that is much stronger than the sporadic sell orders above. This is by no means retail behavior; the main force's willingness to protect the market is evident! Yesterday's 'net inflow of 1.17 million' actually represents a net inflow of 1.17 million USD, indicating that funds are not withdrawing completely but are selectively settling at critical points.

On the news front, this morning BlackRock's spot ETH ETF application supplementary documents were quickly confirmed by the SEC, coupled with Federal Reserve officials suggesting that there may be two rate cuts this year, injecting a shot of adrenaline into the market. Cunning main forces are building a fortress above 2420, using support orders to absorb selling pressure. On the weekly K-level, 2800 remains a stubborn resistance, but the buying support in the 2350-2400 area is strong, making the probability of a sharp drop in the short term low.

The main force's movements are full of secrets:
Currently, the thickness of support orders is significantly better than that of sell orders, indicating that the bullish defense is dominant. If 2420 holds, there is still an opportunity for a short-term counterattack. If the volume stabilizes above 2450, it is expected to test the psychological barrier of 2500. However, caution is needed—if support orders are continuously broken by large sell orders, it may quickly test the 2380 support.

ETH is at a crossroads of a battle between bulls and bears. The main force's deployment at the 2420 line is either to lure the enemy in or to launch a counterattack? Keep a close eye on changes in support orders and volume coordination, as the direction of the breakout is about to become clear!

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