【$eth】2025.6.11

From this moment on, whether $eth can continue to reach new highs depends on one thing: can it effectively break through 2800 again?! If it can, the next target is 2840, as for whether it can reach 2900, I don’t know; it depends on price fluctuations. If it wants to reach 2900, at least one strong bullish candle is needed at 2840. In my view, the entire market is at an extremely critical position, which is around 2920. In other words, if the price can reach this level later, you can definitely start your gradual operations for long positions on shorts. Just afraid that this opportunity may not arise, as there is strong resistance at the 2840 level before reaching 2920.

In the short term, if from now on the price drops instead of rising, the support below is around 2770; if it effectively breaks below this, the next target is 2740. Theoretically, there should be a potential rebound at 2740, but if there is sudden bad news, that's another story.

Additionally, can we blindly be optimistic and go long now? Can we mindlessly go long? $btc can, but $eth cannot. First, $eth has already had its corrective rise, and if it starts to adjust, the volatility will not be small. If there is sudden bad news, the emotional outburst will be quite severe, especially focusing on tonight's CPI information. Secondly, $eth has reached a critical point that could reverse its trend, meaning we must be on guard against $eth turning down at any moment. Therefore, I definitely will not blindly be bullish on $eth. The higher it goes, the more opportunities it gives to bears.

Finally, I want to emphasize again, 【2720-2740】 is the key support; if this level is broken, consider it a warning.