ETH ecosystem data explosion, seize this market wave, don’t wait another year!
Core Judgment
ETH is at a critical point for a breakout, with both bulls and bears fiercely competing. The four-hour level is fluctuating between $3050 - $3100, with heavy pressure in the $3100 - $3200 range, featuring a strong resistance zone of $64.89 million, while support at $2900 - $2950 is relatively weak. The MACD is hovering near the zero line, and the RSI is neutral to strong, so keep an eye on the support at $2980.
Technical Signals
Bull-Bear Contest: The moving averages have converged, and the short-term direction will be determined soon. The Bollinger Bands are closing, with the price above the middle band but not breaking the upper band. The MACD has the potential to form a golden cross; if the volume increases, it will become a golden cross. Liquidation Distribution: The pressure from $3100 - $3200 acts like a fortress, while the support at $2900 - $2950 is weak. Market depth is average, so be wary of false breakouts leading to a chain liquidation.
On-chain and Fundamentals
Ecosystem Improvement: Layer2 locked positions exceed $38.5 billion, Arbitrum's trading volume is surging, and Ethereum staking has hit new highs. Risk Warning: Whales have transferred 120,000 ETH to exchanges, and the futures funding rate is decreasing, cooling bullish enthusiasm.
Operation Strategy
Break through $3120, targeting $3250; buy high and sell low in the $2950 - $3100 range; stop loss and observe if it falls below $2950. Operations must adhere to strict discipline, and volume must be monitored during critical breakouts. Leverage should not exceed 5 times, with a focus on the defense and attack at $3150.
Pattern Analysis
A breakout above $3120 may form a head and shoulders bottom, targeting $3250 - $3300; a drop below $2950 may test previous lows, forming a double top. In the short term, ETH is nearing the end of a triangular convergence, with $3100 acting as a watershed. It is recommended to follow the breakout, paying attention to whale selling pressure.
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