"Whales are fighting, while the retail investors watch the show. Today's ETH K-line is more thrilling than rolling dice — the direction is uncertain, but the smell of gunpowder has already floated to the moon!"
Brothers, when that spike to 3,040 couldn't hold, I knew something weird would happen today! I just dug up the latest on-chain news, wow, the funding situation is as lively as a vegetable market's leek-cutting competition:
Bull representative team:
The US stock "bro" SharpLink Gaming is really on fire! Yesterday, they officially announced buying the dip with 10,000 ETH, and this morning they crazily swept up 21,487 ETH (64.26 million dollars) through OTC + Coinbase Prime dual channels. This operation clearly shows they are determined to be bullish on the market, taking advantage of the dip to accumulate chips! The company's bold move either signals they have sniffed out significant good news, or it indicates that ETH's cost-effectiveness is making them drool.
A mysterious new wallet has also come to join the fun: a newly created address just withdrew 16,773 ETH (5.01 million dollars) from FalconX two hours ago. New money is entering, either through institutional disguises or large holders' layouts; this move is not something retail investors can afford, adding ammunition to the bulls.
Bear representative team:
The GMX project party "runs faster than Hong Kong reporters"! A hacker just returned 10,000 ETH (worth 30 million dollars), and the GMX project party sold it all off 7 hours ago (average price 2,959 dollars), converting it to stablecoins to "comfort users". This operation is equivalent to shifting the selling pressure onto the market, looking a bit ugly, clearly telling the market: I don't believe in a short-term surge, I prefer to cash out!
The most heartbreaking is the "betrayal by the biological father": that Ethereum Foundation related address secretly sold 2,416 ETH (7.1 million dollars) within 24 hours, at an average price of 2,941 dollars. Although the volume is not huge, the words "the foundation" are a weather vane! The memory of the market crashing after their reduction in July last year instantly attacked me — this signal is too piercing, retail investors get anxious just looking at it!
The technical aspect is coordinated with the performance:
Looking at the 1-hour chart, it's simply a script tailored for the news! The morning surge to 3,040 was stimulated by the SharpLink accumulation news, but it was precisely countered by GMX and the foundation, driving it down to the key level around 2,760 dollars (50% Fibonacci). Now it's stuck in the narrow range of 2,760-2,830 (38.2%), like a headless fly.
Clear-eyed people understand: the bulls rely on institutions to hard buy and support the price, while the bears use the project party and foundation as a gun! Today's trading volume is also very honest — it clearly shrank during the surge (far from the estimate), indicating that the trend-following traders have gotten scared; the volume increased during the drop, and the panic selling has truly come out.
Don't be scared to the point of wetting your pants by "foundation selling off"! Look closely:
SharpLink, a genuine buyer entering with real cash, has a cost around 3,000; would they allow ETH to plummet while standing guard? They will definitely hold the key positions!
The 2,400 ETH sold by the foundation compared to the 38,000 ETH bought by institutions doesn't even count as a fraction! It's more of a psychological warfare, big funds would love for retail investors to panic and sell at a loss.
The GMX selling pressure is a necessity (user compensation), and once it's done, the bearish sentiment will be exhausted!
Will it drop to 2,945?
It's possible in the short term! If the bulls don't quickly increase volume to reclaim 2,830 and stabilize, the bears might kick again, reaching 2,700 (61.8%) or even 2,600 (78.6%) is also possible. Breaking through 2,945 (near GMX's selling price) is as easy as playing. But remember: if it dares to drop below 2,900, institutions like SharpLink will definitely step in to buy! At that time, it will be the starting point of a violent rebound.
"Is it time to buy the dip now? Don't let your hands be faster than your brain! Focus on two signals: either break through the 2,830 resistance with increased volume, proving that the bulls are in control; or drop below 2,900, triggering panic selling, and institutions picking up the bargain — besides that, keep your money tight and watch the whales perform! Tonight, will ETH perform a deep V reversal, or will it be pressed down to the floor? Bet in the comments, we'll reveal it tomorrow!"
Last night, a 114 million dollar secret showdown: the bullish whale is firmly defending the 2,945 life-and-death line!$ETH #ETH突破3000
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