ETH Market Brief | Current Pressure Test
As of now, ETH/USDT is approaching a key resistance area, with the latest price testing 3772 USDT, and the market is attempting a short-term breakout.
Chart Signal Interpretation:
Short-term moving averages (such as MA7) are rising and consistently supporting the mid-term moving average (MA30), indicating effective support and a typical bullish-controlled oscillating upward structure. The current candlestick has shown a significant long bullish candle, breaking through the upper boundary of the short-term oscillation box and testing the previous high area.
There are dense liquidation orders in the 3750-3800 range, which is a confrontation zone for bulls and bears. Strong support is concentrated in the 3570-3600 area below, forming an important defense line for bulls.
ETH is currently at a critical decision point—liquidation is dense above; if the bulls break through effectively, it may trigger a short squeeze. However, the current volume has not significantly increased, and whether a sustained upward attack can be formed still requires observation of follow-up funds and position changes.
Short-term Strategy Recommendations:
Breakout Pullback Buy: If it stabilizes above 3750, a light position can be taken to follow the trend, targeting 3800~3850.
False Breakout Defense: If it rises and then falls below 3720, it can be viewed as a false breakout, suitable for shorting in anticipation of a pullback.
Key Support Levels: Pay attention to whether the support in the 3650~3600 area is effectively stabilized during a pullback.
Trading Reminder:
During this phase, operations should control positions, avoid chasing highs, and not bet on one-sided trades, while strictly setting stop losses to cope with the risks of false breakouts.
