Ethereum skyrockets by $40 and instantly turns into a meat grinder?
The market today was more thrilling than a Hollywood script, with ETH violently surging by $40 to $1793, only to immediately crash through $1750, exploding over $1.5 billion in long positions. This double-edged move left contract traders in tears. The current price is stuck at $1779, feigning death, while the midline of the Bollinger Bands at $1763 is the switch for the meat grinder—if it breaks, it will head straight for the liquidation zone at $1730; if it holds, it might still fish for the resistance level at $1820.
1. On-chain alarms sounded
A giant whale dumped 120,000 ETH into exchanges this morning, which is a clear signal that the main force is gearing up for a full-scale assault.
2. Institutional trump cards vs. death spiral
Don’t be fooled by the stagnant market; there’s a nuclear-level game hidden in the news—BlackRock has 80,000 ETH ready to go, while Vitalik's staking protocol upgrade is being used as a smokescreen by the market makers. I’ll put it bluntly: before the two nuclear bombs, PCE and non-farm payrolls, land, anyone daring to gamble in the $1730-$1790 range is just offering themselves to the market makers. Look at the four-hour K-line; the MACD death cross is hovering above the zero axis, and the RSI just exited the overbought zone before collapsing—this is a clear death signal for the bulls who have exhausted their bullets.
3. Liquidation warning! $1730 is a mass grave
The upper level at $1795 is the dividing line of strength and weakness; only if it stabilizes can we talk about a reversal; the lower level at $1730 is buried with $1 billion in long corpses. Spot traders need to hold steady now, as the weekly level ETH/BTC exchange rate has dropped to the freezing point of 0.019; cutting losses at this level is equivalent to giving away bloodied chips.
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