[Zeus's bold statement: Today's ETH market—first kill the bulls, then slaughter the bears; it's all about mindset for the main force!]
'In a bull market, there are many sharp drops; in a bear market, there are many spikes—ETH's movement today clearly aims to cut two waves of retail investors!'
Brothers, today's ETH market is a typical 'rising to make you believe, falling to make you fear' tactic! A small bearish candle was just formed on the 4-hour chart (-0.46%), but overall it still rose 2.06%, indicating that the main force is pulling up while washing out positions, making it uncomfortable for you to get in or out.
1. Technical analysis: Keep a close eye on key levels! The resistance level is at 4790 (previous high, Fibonacci 100% level), it hesitated at 4683 today, indicating insufficient market confidence, and large funds are on the sidelines. The support level is at 4250 (30-day moving average + Fibonacci 50%), this level is crucial; if it breaks, the short-term bulls are directly finished, and the next stop is 4000. The short-term moving average MA7 (4494) is still supporting the price, but the trading volume is shrinking (VOLUME 46k vs MA5 70k), indicating that market enthusiasm is decreasing, with no new funds entering, just old investors cutting each other's positions.
Zeus's perspective:
ETH is currently in an awkward position of 'neither up nor down,' with the main force waiting for Bitcoin (BTC) to lead the way. If BTC can stabilize at 120,000, ETH will likely make another push towards 4800; but if BTC pulls back, ETH will definitely drop, and 4250 is the line of life and death!
2. News front: What's the latest buzz today? Vitalik hinted on Twitter about the 'explosion of Ethereum's L2 ecosystem,' but the market's reaction is lukewarm, indicating that the good news has already been priced in. A certain whale address has been continuously accumulating in the 4600-4700 range; on-chain data shows that over 50,000 ETH flowed into exchanges in the past 24 hours, suspected of preparing to dump. The US SEC has postponed the decision on the ETH spot ETF, which is negative in the short term, but in the long run, the approval of the ETF is just a matter of time, so large funds are still waiting.
Zeus's complaints:
The current market sentiment is 'good news is treated as bad news, and bad news is treated as good news.' The main force is playing a psychological game!
3. Operational strategy:
How to play without losing? Short-term (1-3 days): If it stabilizes above 4650, you can try a small long position with a target of 4750-4800, and stop loss below 4600. If it breaks below 4500, don't rush to catch the bottom; wait until around 4250 to consider buying. Mid-term (1-2 weeks): If it breaks out above 4800, you can chase the rise with a target of 5200 (previous high). If it breaks below 4250, directly look at 4000, or even 3800 (Fibonacci 38.2%).
Zeus's classic case:
Last month, a fan went all in on ETH at 4700 and ended up being stuck at 4200, asking me what to do? I said, 'In a bull market, don't be afraid of drops; what you should fear is not being able to hold on!' As a result, this brother held on and is now back in profit. So, mindset is more important than technique!
4. Zeus's conclusion: How will ETH move next?
'The main force is now testing patience. Only when retail investors are forced to sell will they pull up!' If you can't hold on now, wait for a breakout above 4800 or a pullback to 4250 before acting. Remember, in a bull market, there are many corrections, but don't get shaken out!