3700 is like a magical barrier; if broken, the sky is the limit; if dropped below, hidden currents surge—ETH is writing a new market script.
News:
Technical Analysis:
The 1-hour candlestick shows a typical oscillation pattern:
Key Resistance Level: 3708
Important Support Level: 3665.
MACD Indicator: DIF and DEA are glued together, indicating a tug-of-war between bulls and bears.
Trading Volume: Currently 280,000 ETH, below the 5-day average of 350,000.
Core Observation:
Institutional Movements: BlackRock has added 150,000 ETH to its holdings.
On-chain Data: A certain whale address transferred 80,000 ETH to the exchange.
Options Market: The open interest for options with a strike price of 3700 surged, indicating a contest for key levels.
Crypto Circle Strategy:
Short-term:
Operate in the range of 3680-3705, with a stop loss of 30 points.
If it breaks 3710 and the volume increases to over 400,000, it may be an opportunity to go long with a small position.
Medium to Long-term:
Build positions in batches below 3650.
Spot holders should remain patient and wait for the trend to clarify.
Crypto Circle Risk Warning:
Important economic data will be released at 20:30 Beijing time, which may trigger significant volatility.
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