Brothers, let's take a look at today's $ETH 4-hour K-line! Current price is 4321.47 USD, slightly up by 0.6%, but it has been oscillating in the range of 4250-4350 for a full 8 K-lines (32 hours). Remember the key positions:

Upper pressure: 4350 (MA7 moving average) is like a ceiling, 4400 is a psychological barrier.

Lower support: 4280 (MA30 moving average) is the lifeline, 4250 is absolutely the bottom line that cannot be broken.

The most noteworthy is the trading volume: Although it's healthy to have high volume when prices rise and low volume when they fall, the overall volume is low, indicating that large funds are observing and only retail investors are left cutting each other.

Technical analysis in layman's terms

Moving average system:

MA7 (yellow line) and MA30 (blue line) are in a bullish arrangement, but the price is pressed below 4350, indicating significant short-term pressure.

This kind of moving average convergence state usually indicates that a major change is about to occur.

K-line language:

The recent K-lines all have long upper and lower shadows, like two strong men tugging at a rope—neither side is willing to give in.

The fluctuation range between 4250-4350 is getting narrower, and a direction is about to be chosen.

Truth about volume:

Volume slightly increases during upward movements and decreases during downward movements, indicating light selling pressure.

However, overall trading volume is low; referring to historical data, this kind of low-volume sideways movement often leads to significant market movements.

Latest news

Macroeconomic perspective: The Federal Reserve will release meeting minutes tonight, and the market is worried about hawkish signals, so large funds are hesitant to act.

On-chain data: A large number of buy orders were placed around 4250 by whale addresses, indicating that large holders believe this position has support.

Industry dynamics: Vitalik just liked the Ethereum L2 expansion plan, which is beneficial in the long term but has limited short-term impact.

Personal opinion

In my experience, this kind of low-volume sideways market resembles the wave in July 2022: at that time, ETH consolidated at 1700 for a week and then surged 40% directly due to the merger benefits. Now we have reached the 'darkness before dawn', I suggest phased positioning instead of blindly chasing highs and cutting losses.

Case sharing: Remember when it was sideways at 4300 last year, many couldn't help but chase highs and cut losses, only to be slapped in the face from both sides. Those who made real profits were those who bought in phases around 4250 and then set their stop losses.

Operation suggestions

Short-term (today):

Try a light position between 4280-4300, stop loss at 4250, target 4350

Break above 4350 can chase long to see 4400

Medium to long term:

Position in phases below 4250, increase positions when breaking through 4400 with volume.

Hold spot positions, don't exceed 3x leverage on contracts.

Remember! Sideways markets test patience the most, don't become the 'reverse indicator expert' who keeps getting slapped in the face. Set warning lines at 4250 and 4350, and a breakout on either side may lead to a trend market.

Tonight's Federal Reserve meeting minutes may ignite the market! Do you think ETH will break upwards first or break down?