!! The big ones are coming!! The big ones are coming!!
Yesterday afternoon at 1:50 PM, Ethereum broke through the $3940 mark, setting a new price peak for the year! The entire cryptocurrency community erupted with cheers of "the bull market is back." However, this joy did not last long, as the market took a sharp turn downwards, plummeting nearly 200 points in a short time, and by 2 AM today, it had dropped to $3751, as if hit by a sudden "heavy pressure."
Currently, the price hovers between $3780 and $3800, with both bulls and bears firmly holding their positions, secretly grappling. Will it continue to adjust downwards, or will there be a strong rebound to challenge the $4000 mark? Experienced investors know: at this moment, paying attention to the direction of large trades may be more critical than closely monitoring the candlestick chart.
This sharp decline is attributed to the "buy the expectation, sell the fact" effect triggered by the implementation of the US-EU tariff agreement - on July 28, the US and EU announced tariff reductions, prompting a rise in the market, with ETH reaching $3940. However, after the news was realized, the good news was fully priced in, and profit-taking quickly led to sell-offs, resulting in over $3 billion in liquidation across the network within 24 hours.
On the eve of the crash, Ethereum's PoS exit queue surged unusually to 743,800 ETH (worth over $2.9 billion), setting a historical high, leading to severe withdrawal congestion, making it difficult for some whales to exit their staked funds.
Observing the PoS exit queue: if this value falls below 500,000 ETH, the alarm will be lifted, and the upward trend may restart; watch for changes in ETH reserves on exchanges: if prices continue to fall, it may mean whales are quietly accumulating; while a sudden spike may indicate a potential sell-off.
Additionally, the 4-hour EMA moving average has become a key defense line: as long as the $3750 support does not break, it is a clear indication of bullish strength.
Feeling lost and unable to find a way out? The market is currently turbulent, walking alone can be lonely, I am the wind god, only those who resonate in harmony can gather together!