In the afternoon, ETH's hourly trend surged to 2680 and then plummeted, currently hovering around 2574. The moving averages are all pressing down, and the short-term 7-day and 30-day lines are not performing well at all, completely dragging their feet. The trading volume has also shrunk, and funds are hesitant to move, with the market directly entering a flat mode.
In MACD, the DIF is being pressed by the DEA, and the red bars are still shortening. The bears are temporarily in control, but the bulls haven't completely given up, quietly gathering strength. The three RSI lines are all lying below 50, with the market full of watchful and cautious emotions, with few daring to charge forward.
On-chain data should focus on address activity and large transfers. If a lot of ETH is transferred out of exchange wallets, that's long-term players making moves; if there is selling pressure, one must be cautious in the short term.
Recently, there haven't been any explosive news events, with no strong drivers, and funds are hesitant to act rashly.
Right now, ETH is in a "consolidation phase" after a spike, likely grinding in the 2550 - 2600 range in the short term.
If you have coins, don’t panic; if you don’t have coins, don’t rush to buy the dip. Wait for trading volume to increase, indicators to improve, or for some big news to emerge before looking for new directions.
The crypto market is risky, so think carefully before you operate whether you can withstand the volatility, and don’t jump in impulsively!
Are you stuck? When will you buy the dip? It’s still the same advice: if you feel lost and helpless not knowing what to do, click on my avatar to follow me. I need fans, and you need references; guessing is not as good as following!
