Tonight's ETH one-hour candlestick is strongly oscillating between the middle and upper Bollinger Bands, and the technicals have already shown a golden cross signal, with bulls building momentum!
The most critical resistance level currently is at 4630. Once it breaks with volume, the market is very likely to surge straight to 4820 or even higher!
Technical analysis:
Key resistance level: 4630 (breakthrough = opens up upward space)
Upper target: 4820–4829 (liquidation heatmap shows a dense area of short orders)
Lower support: 4465 → 4300 (if support holds, trend remains unchanged)
Current formation: golden cross continues, Bollinger Bands opening upwards, MACD energy bars still expanding!
From the provided liquidation heatmap, the 4800–4820 range is a dense area for short liquidation. Once the price strongly breaks through 4630, it will trigger a chain reaction of short cover, accelerating the price rise!
Mig's view:
I believe the probability of ETH breaking through 4630 is very high. Once stabilized, the first short-term target is 4820, and the second target can even look at the 4900–4950 area!
But be aware, if unable to effectively break through, it may retest the support at 4465 to build momentum again.
The foreshadowing is here:
The key that truly determines whether the market can stabilize and challenge new highs not only depends on 4630 but also on whether the trading volume continues to expand + whether a new round of liquidation pressure forms near 4820.
Operational advice
Breakthrough 4630: can chase long, target 4780–4820
Retest 4465/4300: gradually build long positions, stop loss placed at 4250
Heavy position holders should pay attention to risk control, avoid spike trading!
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