Brothers, keep an eye on this 1-hour chart, and take a look at the wind blowing in the circle today. Old Chan knows what's going on in his heart—ETH will push to 3500 tonight, the script is about to be written on our faces!
The current price is hovering around 3452 USD, just 1.4% away from 3500. Given ETH's volatile nature, it could easily surge! The key is that BlackRock's spot ETF holdings have quietly surpassed 368,000 ETH! The big whales are stepping in with real cash, and combined with the 'accumulation' signal on the chart, how can this final push lack power?
The huge blue area on the chart, 76.6% of the trading volume is piled between 3263 and 3513.50, is a fortified position that bulls and bears have fought over for a long time. Amazing! Now the price is 3452, just hitting the top of this fortification! What are the market makers trying to achieve by pushing it here? Isn’t it just to pierce through 3513.50, after which the resistance becomes smaller, making the sprint to 3500 a sure thing? This feels just like the tranquility before the violent surge after the last spike at 2800.
The glaring Fibonacci 100.0% resistance level at the top left of the chart is at 3481.20. The price is less than 30 USD away from it. If it makes even a slight push to touch or stand above 3481 tonight, the following buyers and short sellers will have to rush to escape, instantly pushing towards 3500! Not to mention the daily chart is still in a rebound trend, supporting the bottom.
Looking at the main orders and the latest transactions, there are dense orders around 3452.5x, with large orders constantly being executed. This is a fierce battle between bulls and bears in the 3450 trench! If the bulls can pin the price down, it shows their ammunition is strong. Coupled with Vitalik's news about the EOF upgrade reducing Gas fees at EthCC, on-chain expectations are rising. Can the market makers not take advantage of this? They are investing real money, definitely not just to stand still.
The timing is right for institutions to stock up, the critical resistance is just within reach, and the main orders are making a strong push! This market is like a tightly packed spring, just waiting for a spark. If it doesn’t break 3500 tonight, it would be a disgrace to this situation! Last time at 3200, how many hesitated to buy the dip? The market specializes in overcoming reluctance!
But! You know the market makers' nature, the more it aligns with expectations, the more likely they are to play both sides against each other. If it can't break through, where is the retreat bottom line? What is the signal for a false breakout that will lead to a counter-sell? If 3500 really breaks, should you chase or wait for a pullback? The nuances and precise points here can't be explained in just a few words; the market changes rapidly, and one small detail wrong could mean missing out on profits or getting hurt!
Follow Sister Chan for the latest updates and strategies on key levels, only broadcast in the core circle in real-time. If you don’t want to miss breaking through resistance or avoid being caught in a spike trap, quickly follow Chan's insights! Join the ambitious team of Chan's followers, tonight, keep a close eye on this final push!