The Inside Story of ETH's Explosive Surge in One Hour! Large Funds Entered the Market Last Night, Can We Still Chase Today?
Exclusive Analysis + Action Strategy!
ETH stirred things up again last night! The one-hour candlestick surged dramatically, how many people were awakened in the middle of the night? Today's market is even more cryptic, let me break down the logic behind it for you and also discuss how to operate today!
1. The Truth Behind Last Night's Surge: A Double Whammy of News and Technicals!
News: Last night, rumors suddenly spread that the "Ethereum ETF's final review may be passed ahead of schedule". Although there is no solid evidence yet, large funds couldn't hold back. Coupled with rising expectations for an interest rate cut by the Federal Reserve, the entire crypto market felt energized!
Technicals: From the one-hour chart, ETH broke through a key resistance level directly at 3 AM, with trading volume surging, indicating large players entering the market. This kind of breakthrough is considered "textbook level", prompting technical traders to follow suit, which caused prices to soar.
2. Today's Trend: Be Cautious of a Pullback, But Don't Panic!
Short-term: After a high surge in the morning, ETH showed some weakness, with the one-hour candlestick exhibiting an "upper shadow", indicating that some investors are taking profits. However, the key support level has not been broken, suggesting that bulls have not given up.
Medium-term: If ETH can maintain last night's breakout level today, it may continue to rise; if it breaks the support, it may retest for confirmation, but it's likely to be a market wash rather than a real drop.
3. My Opinion: Don't Chase Highs, Wait for Opportunities!
Chasing highs is risky: After a surge, it is easy to experience a pullback, especially when retail investors rush in, which is often the moment for large players to take profits.
Strategy: Wait for a pullback to the support level to enter gradually, or wait for solid news before a second surge.
4. The Impact of the Surge on the Market: ETH is Setting the Pace!
Altcoins Following Suit: When ETH moves, others will also react, but don't chase blindly, pay attention to strong coins.
Market Sentiment: If ETH can stabilize, Bitcoin may also be influenced, and the overall crypto market will continue to thrive.
Summary:
Last night's explosive surge was not a coincidence, it was the combined force of news and technicals. Don't get carried away today, patiently wait for a pullback opportunity!
Remember: Bull markets often have sharp declines, while bear markets often have explosive surges; the key is to catch the right rhythm.
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