Ethereum's surge was too intense, directly skyrocketing 680 points, pulling from 4888 all the way up to over 7700, instantly igniting market sentiment.
Now it's retracing to around 7000 and consolidating, many people are staring at the screens, afraid to make a move: is this a shakeout, or the prelude to a crash?
My view:
7000 is a key emotional level: bulls need to defend it, bears need to strike, this is a battleground.
After a sharp rise, there must be a digestion of emotions; the retail investors chasing highs need consolidation to cool off.
Coincidentally, it's the weekend, liquidity decreases, making it easier for the main players to use fluctuations to 'wear down people's patience' and shake off impatient chips.
Operational strategy:
If it stabilizes above 7000 → 7200, the market will enter a second upward attack, short-term capital can take some profits;
If it breaks below 6900, emotions will backfire, panic selling may trigger a sharp drop.
At this position, don’t fantasize about making a huge profit in one go; light positions and quick trades are the right approach.
In summary:
Consolidation around 7000 means the main players are digesting the emotions after the sharp rise. Be patient for direction, follow the right rhythm, and even small funds can seize opportunities for doubling their profits.
