Tonight's ETH movement has once again become the market focus, with the 1-hour candlestick strongly rebounding from the lower Bollinger band to the middle band, currently aiming at the key resistance level of 4750!
On the technical side, the MACD golden cross has just formed, and bullish momentum is gathering; this is a strong signal that cannot be ignored.
From the news perspective, Powell's latest speech has opened the door for a September rate cut, and global liquidity expectations are once again heating up.
Historical experience tells us that interest rate cut cycles are often a 'catalyst' for the crypto market, especially for mainstream coins like ETH that have a strong ecosystem and institutional backing.
Once the macro environment aligns and the technical side breaks through, a explosive market trend can easily be ignited.
Currently, the nearest resistance above is around 4900, while the support below is at 4659 and 4571.
If ETH can effectively hold above 4750—note that I said 'effectively hold', meaning a continuous 1-4 hour candlestick closes firmly with increased volume—then pushing towards 4900 will just be a matter of time.
But Mig wants to remind everyone here: resistance levels are never meant to be broken through, but rather to be tested.
Even if it breaks 4750, it doesn't mean it can surge straight to 4900. There may be multiple retests in between, and even the main force may take advantage of good news to offload while washing out retail investors.
This is the real market; it cannot be summarized by simply shouting bullish or bearish.
My personal view is: slightly bullish in the short term, but absolutely do not blindly chase high prices.
If it stabilizes after a retest in the 4659–4571 range, it would actually be a good opportunity to build positions in batches.#ETH创历史新高
Follow Mig; I will gradually release clues in my analysis. In a bull market, do not guess the top; in a bear market, do not catch the bottom. Only rhythm and strategy are the way to survive.
