$ETH The giant whale has already been secretly laying out plans! Is it building up or enticing buying?
The market always sprouts in doubt and peaks in FOMO — right now, the 5-minute chart of ETH is stuck in a narrow channel of 'selling pressure above, buying support below', like a spring waiting for direction.
1. Technical Aspects: Tug-of-war between bulls and bears on the micro chart!
1. On the MACD front: The red momentum bars are still extending, indicating that short-term bullish momentum is still dominant. Remember, this is on a 5-minute level, with high sensitivity. Once the DIF flattens or turns down close to the DEA, it is likely to signal a quick pullback.
2. On the moving averages: The 5-minute chart typically focuses on MA5 and MA10. If the price can run above MA5, the short-term momentum is not weak; however, if it continuously breaks below MA5 and drags MA10 down, we need to be wary of a small level weakening within a few minutes.
3. On volume: Volume is crucial, and a healthy rise requires an increase in volume. A rise without volume is mostly a trap.
2. News and On-chain: Building up during the quiet period!
1. Although the SEC's final decision has not yet landed, the application processes of several mainstream institutions (like BlackRock and Fidelity) are steadily advancing, forming a medium to long-term underlying support.
2. Smart Money addresses have shown slight net accumulation over the past 24 hours, with some buying costs around 3030.
3. The ETH balance on exchanges has slightly decreased, indicating a slight edge in withdrawal willingness, which reduces potential selling pressure in the short term.
4. It is important to note that the options market has accumulated a significant number of sell call options above $3100, indicating that large funds are cautious about a strong short-term breakout.
Remember! The longer the narrow fluctuations last, the greater the strength of the subsequent breakout — I am Tang Seng, top technical support, serving only those with vision and ambition!
