There are no myths in the cryptocurrency world, only survivors who catch the right rhythm.

Market analysis:
Yesterday's ETH market was like a roller coaster—during the day, it climbed to 4630, but last night, Long Ge shouted 'enter lightly at 4590' in the plaza, and many thought I was conservative. But those who understood the market knew that ETH had been consolidating near 4600 for 3 hours, with no volume increase, indicating that the main players were 'testing the market'—first pulling up to attract retail investors to follow, then waiting for the US stock market to open and take advantage of the situation to wash out. Sure enough, after the US stock market opened lower, ETH falsely dropped to 4580, but was immediately pulled back to 4660 by funds. What does this indicate? 4580 is the main players' bottom line; while retail investors panic and cut losses, they are secretly accumulating chips.

Technical analysis:

From a technical perspective, $4520 is the key level at present. This level is not only a psychological barrier but also a support-resistance conversion level that has been tested multiple times recently.

Based on the 1-hour K-line analysis, the MACD histogram remains positive and is gradually lengthening, indicating that the bullish forces are still strong. The KDJ value is oscillating around 75, showing that the market is in a neutral state.

The current support and resistance levels are very clear:

The strongest support level recently is around $4310.

The resistance level is around $4685.

If the price can stay above 4520, it may test the 4600-4630 area; if it falls below, it may test the support at 4400 or even 4300.

News front:

Midnight crash: whales and CEX teamed up to 'dig a pit.'
At midnight, a whale sold $103 million worth of ETH, causing the price to drop from $4660 to $4600, but it quickly rebounded to $4640—this was a 'false drop.' The real move happened at 2 AM: CEX saw a net outflow of 297,800 ETH, combined with Nvidia's negative earnings report, resulting in ETH plummeting to $4465.


Here’s a key detail: CEX net outflow ≠ selling, but transferring to cold wallets or DeFi, indicating that large funds are 'hedging.' However, Nvidia's post-market drop of 5% and Bitcoin falling below 111,000 is the last straw that broke the market's back—once panic spreads, technicals won't matter.

Long Ge's view:

1-hour closing strategy:
4520 is the lifeline! If the 1-hour closes above 4520, it indicates that the bulls are sounding the counterattack trumpet, go long immediately!

Aggressive approach: you can short lightly at 4510 now, but remember—4400 is the first take-profit level, if it breaks that, look for 4300!

Conservative approach: wait for the 1-hour closing! If it closes below 4520, go short; if it closes above, go long with your eyes closed!

Operational strategy:

Aggressive approach: short lightly at the current price of 4510.
The negative impact of Nvidia's earnings report has not dissipated, Bitcoin is still struggling around 111,000, making it difficult for ETH to surge in the short term. The short target is 4400, and if it breaks that, look for 4300. But remember: light positions! Light positions! Light positions!

Conservative approach: wait for the 1-hour closing.
If the 1-hour closes above 4520, it indicates that the bulls are starting to fight back, go long directly looking for 4600; if it closes below 4520, wait for 4400 to buy the dip. The cryptocurrency market is not short of opportunities, but it lacks patience.

Lastly, let me say a blunt truth.

The cryptocurrency market is always a three-way game of 'news + sentiment + technicals.' Yesterday's crash seemed to be due to Nvidia's earnings report, but essentially, the main players were 'washing the盘' while retail investors were cutting losses—they were quietly accumulating chips.

Still the same question: feeling lost and helpless about when to enter the market? Follow Long Ge, and he will lead you through the thorns in the market.