$ETH Tonight marks a crucial battle! The position at 3820 has become a new dividing line in the tug-of-war between bulls and bears.
On the surface, ETH is just a step away from the resistance level at 3820, but the undercurrents have long been surging: a certain whale has shorted 20,000 ETH with 20x leverage, currently realizing a profit of 1.12 million; Grayscale yesterday also made a significant outflow of 11,000 ETH, while BlackRock has turned to increase its BTC holdings—signals of capital diversion are becoming increasingly clear, making it not so easy for the bulls to break through.
The technical analysis is clearer:
- If it can hold above 3820, the rebound momentum is expected to continue, with the first target looking at 3930, and it may even challenge the 4000+ round number;
- But the defense line at 3736 must be closely monitored; if it is lost, the pullback space may open up. If it can pull back to the 3500-3600 range, it may actually be a golden opportunity to enter in batches—this range is both a strong support from earlier and a key position for the rebalance of bullish and bearish forces.
The current market is essentially a game of "big fish eating small fish": what you think is bottom-fishing may actually be a trap set for you by whales waiting for you to take the bait. The movements of the main players are hidden in every large transaction and every flow of funds; understanding these will help you avoid the scythe, rather than blindly following the trend as fodder.
In tonight's game, ETH's directional choice will directly affect the subsequent rhythm; whether bullish or bearish, everyone must stay alert.
