Is this Ethereum surge a real breakthrough? Or is the main force just 'squeezing toothpaste'? 🔥
Brothers, looking at the current ETH trend, it seems to have risen on the surface, but I feel there's a bit of 'fake excitement'.
The current price is around 3472U, with a 4% increase in 24 hours. Many are becoming impulsive and want to go all in, but I advise: hold steady.
I watched the market until dawn last night, drinking so much coffee that my stomach hurt. Looking at this K-line, I have one feeling - the main force is playing psychological warfare. Although ETH has climbed above the short-term lines (EMA7 at 3425, EMA25 at 3376), the long-term line EMA99 is also at 3429, almost sticking together, indicating that the direction hasn't really broken out yet.
Let's look at the upper Bollinger Band at 3514, which is pressing down hard; there's also a key resistance at 3601 above.
The funding situation isn't great either, with the OBV indicator at -11.5 million, indicating that buying pressure isn't keeping up, the price is rising but the volume hasn't followed, this 'volume-price divergence' can easily lead to a pullback.
Operation suggestion: If it pulls back to 3429 and doesn't break, you can try going long with a light position, targeting 3514 first.
If it really breaks out with volume at 3601, then that would count as opening up new space.
If it falls below 3357, stop loss immediately, no hesitation.
Don't be fooled by the surface of this market, the main force's toothpaste-squeezing style is not a breakthrough, it's testing. Be steady, don't let the market 'shake' you off the bus.
