The sudden surge of 13% in $ETH ! Mysterious large funds are setting traps at 3750 points, and the truth will be revealed at 4 PM!
Current ETH market report
The current ETH price is 3687 USDT, but the real battle is at 3750 points! Last night ETH jumped directly from 3260 to 3687, a sharp increase of 13% in just one hour!
1. The two main drivers behind the surge
News: Large funds collectively entered the market to buy
Last night, two things were wildly circulated in the community:
BlackRock's ETH spot ETF might have quietly passed the review, and there are movements in the over-the-counter market
Vitalik revealed that the September upgrade aims to solve the issue of high Gas fees
Miners are excited: on-chain transfer fees are expected to be halved!
This is how the crypto world works: it's hard to discern the truth of the news, but the main players take the opportunity to accumulate - last night Binance sold 5000 ETH in one hour, all bought by large funds!
Technical aspect: Three major signals arise
Key breakthrough: directly breaking through the psychological barrier of 3600
MACD is strong: green bars suddenly surged threefold
Large funds layout: sell orders filled at 3750 points
2. Today, we must closely monitor these two key levels
Bullish defense line: 3680, if the 1-hour K-line stabilizes here, there may be another surge in the afternoon
Bearish critical point: 3750, breaking through here will trigger trend-following buying, if not broken, it will retrace
If it falls below 3680 → it may test 3600 for support
Breaking through 3750 → directly heading towards 3900, bears will be forced to liquidate, and retail investors will chase highs
3. My practical strategy
Aggressive strategy:
Now at 3687, you can take a small long position, if it breaks 3750 with volume, immediately increase the position!
Conservative strategy:
Place orders at 3560 and wait for a pullback
As long as the 50-line is not broken, do not short! Large funds have a cost basis that is 30% lower than ours, they can hold, but we might be liquidated!
4. The impact of this surge on the crypto market
A signal for altcoins to take off: ETH leads the rise, with ecological coins like ENS and OP rising over 20% in a day
Exchanges are making a fortune: contract liquidations of 320 million dollars, the fees are enough for Binance to buy a building
Final reminder
4 PM is the settlement time for funding rates. If ETH is still stuck below 3750, it may lead to a liquidation of long positions!
The news is the fuse, the technicals are the signpost, and position management is the life-saving symbol
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