2532 becomes the stronghold for the bulls, ETH quickly stabilizes at 2532, the counterattack horn officially sounds!
1. Key level verification: Why has 2532 become today's lifeline?
1. Technical confirmation of an iron bottom
One-hour chart shows a precise pullback to 2532 before rebounding, with three consecutive candlesticks closing above this position, confirming effective support.
On the 4-hour EMA level, multiple lines converge (2472-2506), with 2532 being the central point of short-term moving averages; breaking below indicates a trend reversal, holding it means a bullish launchpad.
Volume spike with long lower shadow: after a sharp drop to 2520 in the morning, it was quickly pulled back, with a 236% volume bar combined with a long wick, indicating bulls are defending 2532.
2. On-chain whales visibly protect the market
Last night, a mysterious address swept up 12,000 ETH (≈30 million USD), with the cost zone precisely at 2530-2550.
The German government's selling pressure (over 4000 ETH withdrawn in 24 hours) was fully absorbed by whales, with on-chain net inflows turning positive.
2. News ignites: Three engines drive the counterattack
1. Ultimate countdown for ETF
Bloomberg confirms: SEC and issuers are close to completing the S-1 filing, with a probability of over 90% for official trading next week!
Capital rehearsal: Bitwise CIO hints that ETH ETF will see inflows of hundreds of billions in the second half of the year, with institutional FOMO sentiment rising.
2. Liquidation fuel is in place
The entire network saw liquidations of 141 million USD in 24 hours, with short positions accounting for 56% (78.51 million), and ETH contributing 33.47 million.
Open interest surged 6.76% to 34.8 billion, and options trading volume skyrocketed by 92%! The leverage knife has been raised.
3. Macroeconomic support
Senator Lummis pushes for cryptocurrency tax reform, with small tax exemptions and elimination of staking taxes, regulatory clouds dissipate.
Old Zhao's personal opinion
The short-term bearish trend of ETH has been broken, bulls are trying to counterattack towards 2640! Hold steady, long position friends!
Short term: 2532 is the starting point, not the end! Holding above 2532 will surely break 2550, with the first target at 2580 (4-hour VWAP) and the ultimate target at the previous high of 2640.
Risk warning: The Independence Day liquidity trap still exists, beware of midnight spikes, defend line at 2525.
Operational strategy:
Long position holders: raise stop loss to 2528, target 2580-2640 for partial profit-taking.
Latecomers: buy on the dip at 2535-2540 with eyes closed, stop loss at 2525, aiming for the second leg of the main upward wave.
Counter-trend bears: opening a short above 2550 = giving the exchange an annual fee!
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