$ETH Attention! Is there hope to reach 4000?
Last night entered a narrow fluctuation period of 3712-3795, the battle between bulls and bears intensified, MACD bearish momentum weakened, three favorable factors, but the RSI is overbought, trading volume shrank, and a giant whale transferred 16,000 ETH to the exchange, creating selling pressure that casts a shadow on the upward momentum.
In the past 24 hours, the entire network liquidated 1 billion dollars, with ETH alone accounting for 342 million, most of which were long positions. The Crypto Fear and Greed Index has fallen to its lowest point in 2023, and everyone in the exchanges is withdrawing crazily, with the giant whales leading the way in fleeing, causing retail investors to panic.
In terms of operations, if it breaks and stabilizes above 3815 with a trading volume exceeding 100,000 ETH, the target is 3850 or a pullback to build positions in batches at 3750-3770. If it breaks 3815 with increased volume, there is a chance to test 3885, but reaching 4000 requires breaking the previous high with sustained volume.
This Friday, the U.S. non-farm payroll data may trigger market fluctuations, so monitor the Bitcoin support level at 117,500 dollars and the giant whale's on-chain movements.
In the crypto market, opportunities at critical points often hide in conflicting signals; when institutions scoop up while faced with whale selling pressure, when technical overbought conditions meet news-driven catalysts, striking the balance between caution and decisiveness is the key to breaking the deadlock.
I will continue to lay out my strategy! Rather than blindly exploring on my own and missing the best entry and exit points that lead to holding losses, it's better to follow me directly if you agree with my approach.
