Last night at ten, ETH suddenly performed a 'faith dive', with the price rapidly dropping from $3650 to $3550, a drop of hundreds of points in just a few minutes, causing many who chased the rise to feel nervous. Subsequently, the market entered a 'chaotic' consolidation mode, repeatedly bouncing within the 3550-3615 range, with low liquidity and a stalemate between bulls and bears.

Review of Old Chen's predictions yesterday:

Yesterday during the day, Old Chen predicted the market would consolidate and decline, and in the afternoon, it retraced near 3615 as expected. At that time, Old Chen's strategy was: 'Consider entering if 3615 holds, but be cautious if it breaks.'

However, after briefly breaking below 3615, the price quickly rebounded, creating a false bullish situation. Many fans asked Old Chen whether to enter the market, and Old Chen decisively replied 'do not chase the rise.' The market ultimately validated this judgment—ETH fell again in the evening, avoiding the risk of long positions being trapped.

Why is the market moving this way?

Main force washing: Rapid declines to clear high-leverage long positions and create panic.

Liquidity trap: The market is thinly traded, easily influenced by large orders, leading to short-term volatility.

Key level contest: 3615 serves as a dividing line for short-term bulls and bears; its repeated testing will determine the market direction.

How to respond to the market in the future?

Although the market fluctuated sharply last night, the price ultimately returned to the starting point and did not form a one-sided trend, which means the market is still building momentum.

Key focus today:

Key level at 3615: If it can hold, look for 3677 and 3736; if it breaks down, observe the strength of support at 3550.

Strategy after the breakdown: If it rebounds and holds above 3550, consider buying on the dip; if it breaks down with increased volume, wait for a stabilization signal at a lower position.


Old Chen reminds: The current market is still in a consolidation phase, do not blindly chase up or sell down, patiently wait for confirmation at key levels before taking action! Follow Old Chen for daily strategies; know in advance. Old Chen's articles do not boast or make empty promises; they only teach you practical survival skills.#加密市场回调