Brothers! Just saw the market, ETH (Ethereum) has smoothly and steadily crossed the $3700 mark! This is the most uplifting news in recent market activity. Many in the group are asking: What signal does this breakthrough send? Can it push further? Let me give you a straightforward analysis.
News front: Good news clustered, igniting the fuse
The breakthrough at 3700 is not happening for no reason; there are several 'favorable winds' blowing behind it.
Institutions are hungry! After the ETF approval, funds are flooding in: Do you remember the announcement on July 20 about the approval of the US Ethereum spot ETF? This is not a minor piece of news! It means that big funds on Wall Street can finally legally 'consume' ETH. There may have been some volatility when the news first broke, but the market has now reacted; breaking 3700 is a clear signal: institutional funds are indeed coming in! Moreover, unlike small retail traders who trade short-term, institutional buying tends to be more sustained, which boosts market confidence significantly.
Market sentiment is warming: Bitcoin (BTC) has been relatively stable lately, and the overall risk appetite in the crypto market is clearly rising. As the second-largest by market cap and a benchmark for technical applications, once ETH takes the lead, its influence on the entire market is substantial. Many waiting funds are starting to take action upon seeing ETH break through key levels.
Technical aspect: Bullish posture set correctly
Having news is not enough; technical indicators also need to be strong to stand firm. Airs took a look at the chart (like the BOLL), and currently, ETH's technical aspect can be said to be quite healthy:
Strong breakout, clear trend: ETH price is firmly above 3700, which is like climbing over the most critical steep slope; the path ahead is relatively open. The previously formed upward trend channel has not only held but has been strengthened by this breakout.
Technical indicators backing: Those technical experts love the MACD (which indicates the strength of buy/sell), and currently, it shows that bullish forces are dominant. The moving average system (like the 5-day, 10-day, 30-day averages) is showing a 'golden cross' or 'bullish arrangement,' which is a typical bullish pattern. If the trading volume continues to increase after the breakout (indicating enthusiastic buying), that would be even better.
Is a pullback an opportunity? Of course, it’s unrealistic to expect a straight surge. Technically, positions around 3700 or slightly lower (like the 3650 area) will become important support points. If these positions can be stabilized, or if a quick pullback confirms the support's validity, the subsequent space will be worth looking forward to.
Airs' personal opinion: Optimistic but don't get carried away
In summary, ETH's recent breakthrough is significant! This is not just a retail emotional surge; it is driven by substantial institutional funds, a recovering macro environment, and technical resonance. My personal judgment:
Short-term (weeks): ETH may continue to challenge higher positions (like the previously mentioned $3900) riding this favorable wind. As market enthusiasm rises, there will be relatively more opportunities.
Mid-term: The core still lies in the sustained inflow of institutional funds and the activity of the on-chain ecosystem (such as DeFi, NFT trading volume, Layer 2 development, etc.). With ETH's rich application scenarios and solid fundamentals, as long as funds keep coming in, the mid-term trend will mainly be bullish.
Must emphasize: Although the market is good, operations must be steady!
Don't go all in: The volatility in the crypto space can make your heart race tenfold. There are opportunities to make money, but be sure to control your investment ratio; use spare money, don't bet the family fortune.
Key support to watch closely: Breaking 3700 is a good signal, but if it quickly falls back and can't recover, be alert for a potential 'false breakout.' The support strength in the 3650-3700 range is very important.
Prepare for the worst: Always think about what if the market changes suddenly (like an unexpected bad news); are you prepared? Set your stop-loss discipline accordingly.
Conclusion
ETH standing above 3700 is definitely an exciting milestone! It signifies that we may be at a new starting point in the market's structural change. The influx of institutional funds is no longer a rumor; it is happening. This is a huge positive for the entire crypto ecosystem, attracting more attention and hot money.
As a long-time participant in the circle, Airs advises everyone: seize the opportunity, but also maintain a stable mindset. Pay attention to institutional dynamics (ETF fund inflow data is very important), focus on key support and resistance on the technical front, and more importantly, make your own trading plan!
Market trends cycle between fear and greed; this breakthrough undoubtedly ignited a lot of confidence. But remember, steady and steady wins the race. Keep an eye on Airs; I will closely monitor the market and provide deeper interpretations and reliable strategies in real-time! What you lack is not luck, but Airs' top-notch team!