ETH is at a breathtaking technical turning point! With the expiration of BTC and ETH options, the market is bound to surge. Whether it will plummet or soar, you can judge after reading this article!
On the 1-hour candlestick chart, a death cross has formed, with the price firmly pinned down at 4460 by the middle Bollinger Band, making it difficult for bulls to make any progress. Above, 4510 and 4650 are like two towering mountains, while below, 4397 and 4319 are imperative lines of defense. However, the real storm is yet to come at 8:30 tonight – the release of US core PCE data will likely be a crucial moment in determining ETH's short-term survival.
From a technical perspective, the current death cross trend is clear, trading volume is shrinking, and large pressure orders are densely accumulated in the 4460-4465 range, indicating heavy short-term selling pressure.
However, there are also hidden orders below, indicating that both bulls and bears are in a stalemate here. This pattern usually means that the market is brewing a breakthrough, and news will become the best "catalyst".
If tonight's data is bullish (lower than expected or flat), ETH is expected to take advantage of the momentum to attack, first testing the 4510 pressure level. If it breaks through successfully, the second target will be the 4600-4650 area.
However, if the data is negative (significantly higher than expected), bears are likely to seize the opportunity and break through the 4397 support level, accelerating the decline towards 4319 or even lower. Note: market sentiment after the data will amplify fluctuations, so do not blindly chase the rise and sell the fall!
Option expiration is inevitable!
For retail investors, the most important thing at this time is to make preparations for both scenarios:
Before the data comes out, try to wait and see and avoid making heavy bets on a direction;
If the market breaks through 4510 or below 4390, you can follow the trend with a light position, but be sure to set a stop loss;
In the medium and long term, ETH is still in a wide range of fluctuations. Do not lose your composure due to single-day fluctuations.
Of course, this is just a preliminary prediction based on the current chart. Will the data trigger a one-sided rally or a bullish or bearish diversion? In reality, the main players have already laid out their strategy, yet the vast majority of retail investors are completely unaware.
If you want more specific point strategies and position management techniques, please feel free to contact me for discussion - don't forget, in this market, those who are foresighted always reap the rewards! The top-tier team is always waiting for your arrival!
