At the moment the upper shadow pierced 3735, all chasing chips became the main force's oxygen bottle—once filled, it's dumped!
Core of the market
The chart clearly marks the resistance levels: 3788 (recent high) > 3735 (daily top) > 3660 (bull-bear line)
Ultimate defense line: 3560 (the downward arrow points directly to 3353.51 weekly strong support)
Volume truth:
The trading volume when hitting 3735 (single volume bar not shown in the chart) is firmly suppressed by the 10-day average volume line (235,749)
Current volume bars continue to be below the average volume line, like 'climbing a mountain on an empty stomach'—this signal was also seen before the crash in November 2023
Trend perspective
3560 will be tested, but it may not be the endpoint!
Bullish disadvantage three evidence:
The MA three lines (yellow/gray/purple) diverged downwards after merging at 3680, forming a 'gallows' shape
In the afternoon, when rebounding to 3660, the volume was insufficient compared to the average of 235,000 (MA10 data shown in the chart)
Daily MACD bars continuously shrink for 6 hours
Break warning
If 3560 is breached, it will trigger a triple chain reaction:
Weekly level head and shoulders structure established (right shoulder is currently being formed)
Panic funds flow towards the marked ultimate defense line of 3353 (8.7% space from current price)
Derivative market may face liquidation exceeding 300 million USD (referring to open interest data)
'Candlesticks are the script written by the main force, and volume is the code that uncovers the lies! Tonight, Old Cow will take you to see the hidden battle behind the 3560 defense line—while 99% of people are trembling at the price, smart money has already laid out in the futures dark pool!'
Want to keep up with the market rhythm without falling behind? Follow Old Cow and you won’t get lost! Real-time interpretation, precise insights, delivered to you at the first moment!#Ethereum #ETH走势分析
