The longer the sideways movement, the more intense the breakout, now is like a powder keg!
Current market situation: Bulls and bears are exchanging barbs, trading volume has shrunk to a minimum
From the 30-minute chart, ETH has been stuck around 4289 for nearly 6 hours. The Bollinger bands 4265-4332 are tightening, resembling a duck being choked. The MACD's DIF and DEA lines are sticking together like a couple in love, with the histogram shrinking to 5.3, thinner than a toothpick. The trading volume is dismal, with 13,000 compared to a 5-day average of 85,000, directly halving and halving again - even a dog would shake its head at this market!
Key price levels:
Resistance above: 4340 Bollinger upper band + 4400 psychological barrier
Support below: 4265 Bollinger lower band + 4160 previous low fortress
News front: Quietly hiding a 'storm' behind the scenes
Today's crypto news seems to have been muted, but several undercurrents are worth noting:
Tonight's most important CPL data event
Dashing's view: Playing with ETH now is like 'catching flying knives with bare hands'
Case review: Last week ETH oscillated between 4200-4400, resulting in a large bullish candle reaching 4370 on August 10. Retail investors chased the rise and were immediately buried. Today's reduced volume fluctuation clearly repeats the 'wolf is coming' tactic - the main force is waiting for retail investors to be unable to hold back from cutting losses or chasing the rise before launching a surprise attack.
My strategy:
Short-term: Grid trading between 4265-4340, stop-loss if it breaks below 4265, chase the rise if it breaks above 4340 (must have stop-loss!).
Medium to long-term: Waiting for weekly direction, if ETH stabilizes above 4400, the target is 4800; if it falls below 4160, it may retest the 4000 mark.
Focus on these two signals tonight!
US stock market opening: If Nasdaq futures surge, ETH may follow and hit 4340;
BTC movement: If Bitcoin breaks 121,000, ETH will have a chance to soar.
Remember: sideways markets don’t make money, but big trends after consolidation are a cure for disobedience! Want to catch the bottom and escape the top in real-time? Join my fan group at 8 PM tonight!
