#ETH Su Ge mentioned a few days ago that there is a valuable gap on the ETH weekly chart.
Last night at 8:30, the support at 4600 was smashed through by huge sell orders, dropping to 4451, crashing more than 3%. Long positions were liquidated, and the MACD negative energy sharply amplified, causing instant panic in the market.
Large orders quickly appeared at low levels to stabilize the price, leading to a rebound. The golden cross above the MACD zero line triggered short position stop-losses, and on-chain data showed that net outflow from exchanges was negative, indicating ETH is continuously flowing into private wallets, alleviating selling pressure in DeFi.
The main force has a clear plan: first suppress the leveraged long positions and then push for a rebound by borrowing support.
For bulls, it's about reorganizing, while for bears, it’s a “counter kill” from being forced to hand over chips at low levels.
Pay attention to the support strength at 4450-4460 and changes in long and short positions to grasp the latest trends of ETH and BTC in real-time. Contact: @分析师苏哥
