Hey guys! ETH is on a rollercoaster today, giant whales are bottom-fishing + ETF is crashing, can it still rise in the future?

$ETH

At 4 PM Beijing time on April 17, ETH's latest price was fluctuating around $1600, with a 24-hour volatility of over 5%! This wave of market movement is truly exhilarating; let's get straight to the hard facts—

1. Giant whales are crazily bottom-fishing, but ETF funds are fleeing like crazy?

The most magical plot today: a certain big player nemorino.eth has crazily bought 4520 ETH over the past 17 hours at an average price of $1576, directly dropping $7.12 million! Although there is currently a floating profit of $40,000, this operation clearly bets on a rebound from an oversold condition. On the other hand, the Ethereum spot ETF has seen a net outflow for 7 consecutive days, with another $12 million fleeing yesterday, and Grayscale ETHE had a daily outflow of $8.2 million; the capital situation is simply a tale of two extremes.

Professional Interpretation: The giant whales bottom-fishing indicates that some funds believe the drop has reached its limit, but the continuous outflow from ETFs reflects a lack of confidence from institutions. The short-term battle between bulls and bears is intensifying, so don't blindly follow the trend!

2. Technical Analysis: An oversold rebound is imminent, but is the overall trend still bearish?

From the daily chart, ETH has created a new range between $1537 and $1615, EMA15 has a death cross downward, and MACD divergence shows a significant drop, indicating a clear bearish trend. However, there is a key signal on the four-hour chart: RSI is approaching the oversold zone, and after the price dropped below $1550, it quickly bounced back, suggesting the bulls are quietly building strength.

The strategy from the Bitcoin hunter for you guys is: try long positions below $1550 with a stop loss of 30 points, aiming for $1620-$1660; conversely, try short positions above $1650 with a defense at $1750. Remember, there’s no such thing as 100% in trading; keeping your stop loss is the priority for survival!

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