Folks, today let's have a good chat about the recent market of ETH, especially last night's surge, which was like a heavy bomb, stirring up great waves in the crypto market!

Let's first talk about the news

Recently, the crypto market has been buzzing with news. In terms of the macro environment, the subtle changes in the global economic situation have had a profound impact on the cryptocurrency market. The attention of some traditional financial institutions towards crypto assets continues to rise, with rumors suggesting that some large institutions are gradually increasing their allocations to mainstream cryptocurrencies like ETH, which undoubtedly injects a strong stimulus into the market. Moreover, there are also many positive news within the Ethereum ecosystem itself. For example, the activity of some well-known decentralized applications on the Ethereum network has significantly increased, with a notable growth in user numbers and transaction volumes, demonstrating the strong vitality and development potential of the Ethereum ecosystem, attracting more retail investors' attention.

Take another look at the technical aspects

From this one-hour K-line chart, we can see that ETH's surge last night directly broke through multiple key resistance levels. In the chart, we can see that there was significant support around the price of 3900, and during the upward movement, the area around 4070 was originally a strong resistance level, but last night's market aggressively broke through it. The current price is around 4024, at a relatively high level.

From the technical indicator BOLL, the current price is between the middle and upper bands, and the upper band shows signs of opening upward, which usually indicates that the market is in a strong upward phase. However, we also need to note that the price is approaching the previous high point resistance area, where there may be some selling pressure. At the same time, the K-line chart shows oscillations after the 'Alligator's mouth contraction', followed by this surge, indicating that the market chose to break upward after gathering strength. But currently, the price is at a high level, and there are mixed signals of 'bullish' and 'bearish', indicating that both sides of the market are starting to diverge.

Regarding the impact of this surge on the crypto market, I personally feel that first, ETH, as one of the leaders in the crypto market, its rise will drive the overall market sentiment. Other mainstream currencies may follow suit, and the overall activity of the market will increase. Moreover, this will attract more off-market funds to enter, further promoting the development of the market.

However, we cannot be blindly optimistic. Although the current market is strong, it is always full of uncertainties. From a technical perspective, the price is close to resistance levels, and a pullback could happen at any time. Moreover, positive news is often temporary; if there is no sustained positive support afterwards, the market may reverse.

Captain's bold statement

So, folks, while enjoying the dividends brought by this surge, we must also maintain a clear mind. If you are a short-term investor, consider reducing positions near resistance levels to lock in profits; if you are a long-term investor, you can continue to hold, but also closely monitor market dynamics and set appropriate stop-loss and take-profit points to guard against risks.

In short, this surge in ETH has brought new vitality and opportunities to the crypto market, but it also comes with risks. We need to view it rationally and operate cautiously to move steadily in this unpredictable market!

There are no deities in the coin circle, only smart people who can read signals. The captain's articles do not exaggerate or make empty promises; they only teach you practical survival skills. Follow the captain for daily strategy updates; know it in advance!