ETH breaks 4200, shorts liquidated 200 million! Will it surge or plunge next?
Technical analysis: Breakout and pullback, bulls in control
ETH broke the previous high of 4246 and pulled back to 4200, with prices lingering in the upper range of the Bollinger Bands (upper band 4278 strong resistance, lower band 3965 support). A reduced volume pullback (trading volume decreased by 14,000) + MACD red bars not dissipating, confirming a bullish washout rather than a selloff.
News: Triple engine drive
Institutional buying: Sharplink splurged 420 million buying 124,000 ETH, ETF inflows of 900 million in a single week hit a record; Infrastructure value: over 78% of USDC/USDT trading relies on ETH, becoming the underlying infrastructure for stablecoins; Interest rate cut benefits: The Federal Reserve is expected to cut rates three times this year, with liquidity boosting core DeFi assets.
Key levels: Clear offense and defense
Support: 4150 USD (confluence of moving averages + intraday low, holding this level suggests an increase); Resistance: 4278 USD (Bollinger upper band + previous high, breaking through aims for 4350+).
Don't miss out again!
With the triple resonance of institutions, infrastructure, and interest rate cuts, ETH's main uptrend has begun. Want to catch the breakout at 4278 and buy the dip at 4150? Click to follow for real-time strategy updates. Hesitators will be left behind, followers will reap the rewards!
