Jin Zhu's personal opinion:
#ETH Brothers, take a look at the ETH hourly chart! The current price is stuck at a particularly critical "crossroads." There seems to be a bit of a "ceiling" above, making it difficult to break through; below, there's also a "floor" supporting it, preventing a deep drop for now. In short, it's like a tug-of-war where neither side has fully pulled the other over.
How is the market sentiment?
Currently in the market, the bulls and bears are roughly equal in strength, and it's hard to determine who has the upper hand. Everyone is a bit hesitant emotionally, waiting to see which direction the market will break out. It's a classic "standoff" situation, without clear signals for either a rise or a fall.
What should we do in the future?
The strategy should be clear:
If it breaks upwards, consider a light position: If the price can steadily break through 2286.28, especially if it can stabilize above 2338.87, it indicates that the bulls are gaining strength, and we can consider taking a light position to buy on the rise. Why light position? Because there might be fluctuations right after the breakout!
Be cautious of downward breaks: Conversely, if the price breaks below the important support level of 2218.93, we need to be particularly careful! This likely means the "floor" has been breached, and the bears are starting to gain momentum, leading to a downward trend. At such times, don't rush to catch the bottom; it's better to watch more and act less.
Be patient in the middle range: If it's fluctuating between the resistance level of 2286 and the support level of 2218, then continue to be patient, watch more, and act less, waiting for the market to show a direction. Don't gamble! Let's follow once it chooses a side.
Specific buy and sell points reference:
Key bullish level: Want to rise? First, see if it can break through 2286.28! Only if it stands above that can we say there's potential. Then look at 2338.87; if that can also be broken, the upward space will open up.
Key bearish level: Keep a close eye on 2218.93! If this level can't hold, the risk of a decline increases significantly. Further down, there's another important support near 2110.07.
Bull-bear dividing line: The area marked "dividing line" in the chart is the key battleground for the current price fluctuations.
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