Mig fighter jets take off, the crypto world is stirring again! I am Mig, and the current ETH chart is releasing a key signal that cannot be ignored—despite being in a death cross on the hourly level, the price has strongly rebounded from the lower Bollinger band to near the middle band, with fluctuations exceeding 60 points!
What does this indicate? The battle between bulls and bears has entered a heated stage, and in terms of news, the expected interest rate cut after Powell's speech is likely to become the 'fuse' that ignites the market!
News interpretation:
Powell released dovish signals last Friday, and the expectation for a dollar pullback is heating up, which is likely to drive funds into the cryptocurrency market!
But please note—recent main order data for ETH shows that sell orders dominate, but the current price is always close to the sell price, indicating that large funds have not truly exited the market but are repeatedly testing the key level near 4765, building momentum!
Technical insights:
Currently, the heavy resistance for ETH is at 4957, and the support is anchored at 4610. A rebound in a death cross state is often the most deceptive and dangerous moment—however, if the price can effectively hold above 4765 (with volume support + hourly K-line closing confirmation), the death cross may likely be forcibly reversed, leading to a challenge at the 4956 resistance level!
However, if 4765 cannot be broken after prolonged attempts, the risk of a pullback increases, with support looking down to 4610.
Mig's viewpoint:
I believe the main force is 'washing the plate with a death cross.' When retail investors panic sell, it is often the time for institutions to accumulate. The current order data shows that 'sell price' and 'current price' are extremely close, indicating that both bulls and bears are at a stalemate here—a breakthrough requires just a moment of explosive momentum! Powell's speech may be the 'external shock' that breaks the balance.
Key foreshadowing:
Can it really break 4765? After breaking, will it rise directly or pull back to gather strength? Will 4957 be the endpoint of this rebound?#ETH创历史新高
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