ETH 4-hour K-line Analysis: After a violent washout, is the bottom-fishing opportunity here?

Today's ETH 4-hour K-line was very intense, dropping from 2879 to 2379, a decline of over 17%, leaving the market in despair. But seasoned players understand that such sharp declines are often the major players washing out weak hands. From the chart perspective, 2379 is a key support level; if it holds, there is a high probability of a short-term rebound. The MACD has crossed downward, but the RSI is approaching the oversold zone, indicating a demand for a rebound after the excessive drop.

Impact of the Latest News
The main trigger for today's market decline was the Federal Reserve officials signaling a hawkish stance again, suggesting a possible delay in interest rate cuts, which put pressure on the entire crypto market. However, the fundamentals of ETH remain strong, with Layer 2 network activity hitting new highs, and Gas fees staying low, indicating that ecological usage demand continues to grow. Additionally, institutions like BlackRock are still advancing their applications for ETH spot ETFs, and the long-term outlook remains positive.

Key Levels and Operational Strategy
Currently, 2379 is the dividing line between bullish and bearish short-term. If it holds, there is a chance to rebound to the 2500-2550 resistance area; if it breaks, the next support is at the 2300 integer level. Short-term players can try a small long position with a stop loss below 2350, targeting 2450-2500. Medium to long-term investors shouldn't panic too much; this sharp decline is actually a good opportunity for dollar-cost averaging, but avoid going all in at once; entering in batches is more prudent.

Summary
In a bull market, there are often sharp declines, while in a bear market, declines tend to be gradual. Today's market crash resembles the major players creating panic to accumulate. Although market sentiment is pessimistic, the fundamental and institutional layout logic of ETH remains unchanged; short-term fluctuations do not alter the long-term trend. Stay calm and don't let FUD (fear, uncertainty, doubt) disrupt your rhythm.#ETH走势分析 $ETH

Feeling lost? Can't find a way out?? Comment and get support from a top-tier team!
I am Xiao Chen, supported by a top-tier team; only those who resonate on the same frequency can gather together! (Serious inquiries only)