"The longer the sideways movement, the more intense the breakout. ETH is brewing a major showdown between bulls and bears!"

Qingyao's Current Market Interpretation:

Today, ETH is fluctuating around 3616, with a 24-hour increase of 0.17%. The number of bulls and bears is nearly balanced (114196.99, only up 0.06%), indicating cautious market sentiment as everyone is waiting for direction.

Key Levels to Watch:

The upper resistance at 3690 is strong, and a breakthrough may accelerate upward movement; the lower support at 3566 is short-term, and a drop below it may trigger panic selling. The middle level at 3630 is today's key watershed; establishing a foothold there will provide an opportunity for upward movement.

Technical Indicator Signals:

MACD: The fast and slow lines are sticking together, like two flat salted fish, indicating that the bulls and bears are temporarily at a standstill, waiting for a trend reversal signal. RSI: Hovering around 50, neither overbought nor oversold, the market is waiting for a new story.

Bollinger Bands: Narrowing, with prices rubbing around the mid-band of 3625, indicating that a direction will be chosen soon.

ETH Today's Market Analysis: Consolidating power, a trend reversal is imminent!


The Latest News Impact

Macroeconomic Factors: The opening of US stocks tonight may affect market sentiment. If US stocks perform well, ETH may rise in tandem; if US stocks pull back, funds may exit to avoid risk.
On-chain Data: Recently, ETH whale addresses have shown significant accumulation, but exchange inventories are also increasing, indicating that large funds are accumulating at low levels, but they may sell off at any time.
Market Sentiment: The current long-short ratio is close to 1:1, and retail investors are showing strong wait-and-see sentiment. The market needs a big news event (such as ETF progress or Layer2 ecosystem explosion) to break the deadlock.


Qingyao's Insights & Practical Cases

Viewpoint 1: Volatile Market, Sell High and Buy Low

ETH has been oscillating between 3600-3650 in recent days. Short-term traders can buy high and sell low within this range, for example, buying near 3620 and selling near 3640, while setting stop losses (suggested stop loss below 3580).

Viewpoint 2: Trend Reversal Approaching, Beware of Whipsaws

The Bollinger Bands for ETH have narrowed to an extreme, and a breakout could happen at any moment. However, be cautious as exchanges like to perform 'point explosions' during such times, suddenly pushing prices up or down to liquidate contracts, so don't have too heavy a position to avoid being harvested.

Will ETH continue to move sideways or suddenly surge? We'll find out when US stocks open tonight! Follow Qingyao for timely market interpretations and precise bottom-catching and top-selling strategies!