The ETH triangle zone is on the verge of bursting, will 10x leverage bleed tonight?
2400 resistance waiting to be broken
The market is stuck in the life-and-death triangle zone — BOLL bands are extremely compressed, the channel is only $128, like a needle! The MACD histogram has shrunk to the size of a sesame seed, and even the big players are holding their breath before the storm.
This morning at 7 AM, we saw a classic 'painting the door': first pushing to 2449.8 to lure in longs, then smashing to 2402.3 to liquidate $36 million in leveraged long positions. The current price is 2415.93, precisely stuck at the 38.2% Fibonacci level of 2416, caught in a dilemma.
The powder keg is ready to explode
1. SEC bomb countdown: Ethereum ETF vote next week, regulatory cold treatment ignites bearish sentiment
2. Whales playing heartbeat: A large holder with 96,000 ETH recharged 3200 coins to Binance early in the morning, signaling pressure
3. Asian buying pressure receding: Upbit ETH premium rate plummeted to 1.3%
Retail survival strategies
1. Spot traders: Place grid buy orders below 2390 to pick up panic chips
2. Contract traders: Light long positions on a breakout above 2423, reverse to short below 2390, leverage ≤ 10x
3. News flow snatchers: If the ETF is approved, target the 2500 gap; if the SEC turns dovish, smash the 2350 support.
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