ETH surged 10% overnight! Two major reasons revealed, can we chase the high today?
ETH's surge last night was too intense! It skyrocketed to $4300 in just one hour, and now everyone online is asking: what exactly happened?
News: Sudden big news for the industry!
Wall Street giants suddenly enter the game: Last night, foreign media reported that Goldman Sachs is testing ETH staking services and preparing to open to institutional clients in the second half of the year. The big funds haven't arrived yet, but the market is already excited!
Expectations for Ethereum ETF approval rise: SEC internal documents indicate that the ETH spot ETF might be approved earlier at the end of August, one month ahead of the original plan. The whales are positioning themselves in advance, and retail investors are chasing!
Vitalik's tweet hints at a "major upgrade": Although he didn't specify details, the community speculates it could be a new protocol resistant to quantum computing, and the tech enthusiasts are FOMOing in!
Technical Analysis: Textbook-level breakout!
Key watershed breached: The yellow trend line in the chart was a strong resistance for the past week, and after last night's high-volume breakout, $4300 has turned from resistance to support, with bulls completely in control!
Fibonacci golden ratio assists: The 0.618 level of the blue retracement line perfectly supported the price, which is now pushing towards the 1.0 level, with a short-term target of $4400!
MACD golden cross + Bollinger Bands opening: The DIF line has broken through the DEA, and the upper Bollinger Band at 4337 has been pierced, a typical signal of an "explosive market," but the VR indicator is overbought, so be cautious of a short-term pullback!
Personal Opinion: Opportunities and risks coexist
Today's Strategy:
Aggressive: If it retraces to $4300 without breaking, consider a small long position with targets at $4370-$4400.
Conservative: Wait for the MACD red bars to shrink or for a retracement to the Bollinger middle band at $4259 before considering, to avoid getting trapped by chasing highs!
Warning:
On-chain data shows that a whale placed a sell order for 5000 ETH at $4305, the whales might dump!
The final truth: Bull markets often see sharp drops, don't let FOMO cloud your judgment!
Remember: The money you earn is yours; the numbers on the screen are illusions!
Do you think ETH can reach $4400 today?
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