Last night's ETH market was too stimulating! The price surged violently like it was equipped with a rocket launcher, breaking through the key resistance of 4300! Now it is stabilizing above 4320 and fluctuating. Why did it rise so rapidly? What does the main force want to do? Today, I will break it down for you with the fresh K-line chart!
1. Technical aspect: The main force shows muscle, but don't get carried away!
Speaking with pictures:
Violent breakthrough! It pierced through the important psychological barrier of 4300 in one go, reaching a maximum of 4346 dollars! This is the main force showing muscle!
Standing firm: The current price is stable above 4322; if it can stand firm at the 4300 "watershed", it indicates that the bulls temporarily control the market! 4300 is the lifeline for bulls and bears today!
The Bollinger Bands are opening wide! The upper band has been pierced, indicating that the market sentiment is too hot and needs to take a breather or pull back. The lower band is at 4153. After a sharp rise, there must be fluctuations!
MACD double dragons flying together: The fast and slow lines of the indicator are climbing strongly above the zero line, and the green bars are very vigorous! The bulls are still on the offensive! But the bars are slightly shortening, indicating that the momentum is gradually being consumed.
In simple terms, the technology: The main force forcibly increased the volume to break through, technically the bulls have the advantage! But rushing too fast will inevitably lead to pullback pressure today, and we need to test the authenticity of the 4300 support!
2. News aspect: Rumors abound, is there something big happening?
Last night's surge was no accident! Rumors in the market:
"London upgrade" version 2.0 follow-up benefits fermenting! The story of deflation + efficiency improvement is being stirred up by the main force again?
Institutional funds entering quietly? ETF-related news or a certain big shot's shout ignited the fuse?
Bitcoin stabilizes the market, ETH becomes the vanguard! BTC stabilizes above 120,000, giving little brothers space to perform.
3. Personal opinion:
On the short term: I cautiously look bullish! The bulls conducted a lightning war last night and took control of the situation. But today is not the time for brainless rush! 4346 is a short-term high-pressure level; chasing high has great risks!
Key position:
Support level: 4300 dollars! If it breaks, the short-term strength ends and shifts to fluctuations/adjustments.
Resistance level: 4346, and then look at the big barriers of 4400 and 4500!
Operation strategy:
For the brothers with heavy positions: Reduce positions when high! It surged too violently; protecting profits is crucial. In the 4340-4360 area, you can gradually take profits.
For the brothers who want to bottom-fish: Be patient! Don't rush! Wait for the price to firmly stand in the 4300-4280 area before considering, for example, watching if the MACD pulls back without breaking the zero line, or if the BOLL middle track provides support. Strong support is at 4227 (Bollinger middle track).
For the aggressive brothers: If it strongly holds 4300, you can try a small position to go long, targeting 4346 or even higher, but strictly carry stop-loss!
Risk warning:
Don't forget the MACD bars have shortened! Momentum may be declining.
"Overbought" is not a lie! There is always a technical pullback pressure.
The big cake's complexion is very important! If it leaks, the little brothers will find it hard to survive.
4. Summary:
Short-term trend: Bulls control the market, the direction looks bullish, but it's not a crazy rise! The probability of fluctuations upward is large.
Key point: 4300! If it stands firm, it can look higher; if it cannot stand firm, be cautious.
The significance of last night's surge: The main force made a strong attack to break through key positions, attracting attention and activating the market. But overexertion has sown the seeds for short-term fluctuations or pullbacks. Its impact on the market is that it reignited interest in ETH, establishing a new trench at 4300!
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