ETH 4-hour watch: $2460 is the line of life and death for bulls and bears; pay close attention to these two signals!
Crypto friends, the 4-hour line for ETH is looking a bit interesting! Currently stuck around $2466, both bulls and bears are clearly showing more strength at this position. Technical signals are starting to clash, but the capital flow gives some clues—net inflow of $5.51 million, and the main force has not fully retreated; the key to the outcome in the short to medium term is right in front of us!
Analysis of key points on the market:
BOLL channel opening is narrowing, with the middle track at $2319 as the bottom line: Prices are running just below the upper track at $2504, and the narrowing channel indicates that volatility is decreasing, choosing a direction at any time. $2460 has become a dividing line for strength and weakness; if it holds here, there is a chance to challenge the upper track or even higher; if it cannot hold, the risk of testing the middle track near $2319 is significant.
MACD underwater golden cross, bulls are gathering strength: DIF (10.13) has crossed above DEA (-17.90), forming a golden cross! The histogram has turned red with a value of +56.06 (the original DEA value was incorrect, the actual histogram is a positive value), which is a positive signal of bull energy accumulation. However, it is still below the zero axis, so we can only say there are signs of a rebound; a complete turn strong requires standing firmly above the zero axis.
There are signs of major funds in the capital market:
A large buy order is hanging on the order book, which is a signal that big funds are protecting the price at critical levels. Combined with net inflow data, it indicates that some major players believe the current price is worth defending or even buying at lower levels. However, the '委比-0.25%' also indicates that selling pressure has not completely disappeared, and the long and short sides are still pulling against each other.
Last night, Ethereum's real-time strategy successfully reached our second profit target of $2480. At that time, when the market had not performed, we had already placed long positions. Why did we set our second profit target at $2480? Last night, the market surged to $2481.28 and then began to retreat. Want to know why? Click the homepage to learn more about the cryptocurrency market, real-time entry points, and keep up with the pace; you could have benefited from last night's market too!
The news front is turbulent:
Federal Reserve hawkish pressure: This morning, Federal Reserve officials mentioned again that 'interest rate hikes are not over,' leading to a cooling of the market's expectations for rate cuts. The overall sentiment in the cryptocurrency market is cautious, and ETH is no exception.
Is the dawn of the Hong Kong ETF finally emerging?: The latest news is that Hong Kong is expected to approve the spot ETH ETF this week! Although the details have not yet been finalized, this is definitely a potential major positive. Once approved, the influx of new capital will greatly boost confidence and is a key external factor in breaking the current stalemate.
Xiao Chen's viewpoint:
ETH is currently in a state of 'waiting for the wind to come.' The technical aspect is forming a platform at $2460, and the MACD golden cross is a positive signal, but a volume breakout above $2500 is needed to open up space. On the news front, we are closely watching the approval results of the Hong Kong ETF and the subsequent statements from the Federal Reserve. Short-term strategy: If it does not effectively break below $2460, one can take a light long position, targeting $2500-2540; if it breaks down with volume, then risk avoidance is necessary, looking down to support at $2400 or even $2350. Risk control must be done well!
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