Was ETH's operation last night enough to give you a cold sweat?! One second it was hovering around 3000, and the next second it directly 'free-fell' more than a hundred points. Brothers who were monitoring their phones probably almost poked through the screen, cursing 'I’m going to get trapped again' and preparing to cut losses, but then it suddenly bounced back up, now steadily standing above 3120. This is clearly not just a market trend; it’s obviously the main force testing the heartbeat of retail investors!
Hello everyone, I am Lao Qin. I have been immersed in the crypto circle for five years, witnessing the craziness of 2017 and enduring the bear market of 2022. Today, let’s not talk nonsense; let’s analyze the underlying reasons behind this wave of ETH fluctuations, especially the actions of the whales, which hide the key answers for the future market.
Let me give you the conclusion first: this wave is not a “false alarm,” but rather a “warm-up” before a major move. Don't get dizzy from short-term fluctuations; the core logic focuses on two points: the “anomalies” in funding and the “certainty” on the technical side.
Let's talk about the most tangible funding signals: whales are “scooping up” in a down market. I checked the data from the last 48 hours, and several long-dormant large addresses suddenly started to absorb in bulk, with single transactions exceeding a thousand. Moreover, this happened at the most panic-stricken moment last night. This is quite interesting; retail investors are cutting losses while the main players are accumulating. This has always been a classic script for a market reversal. It's important to note that whales have information channels and risk control capabilities that are several magnitudes stronger than those of small retail investors. They wouldn't just “catch falling knives” for no reason; it's highly likely they've sensed upcoming favorable expectations.
Looking at the technical side, this is our retail investors' “safety belt.” From the 1-hour chart, ETH is currently stuck in the narrow range of 3120-3150 “idling,” but this idling is valuable. On one hand, last night's spike has solidified the support at the 3000 level, equivalent to adding a “safety cushion” to the market; on the other hand, the current trading volume is “contracting and oscillating.” This is not weakness; it's the main players waiting for a breakthrough opportunity, either through news catalysts or concentrated capital entry. Once the key resistance level of 3150 is broken, the next target directly looks at 3300, and the space is very clear.
Some brothers might ask: what if it drops back down? Here’s a clear operational boundary: as long as it doesn’t drop below 2980, maintain a “buy low” mindset; if it truly breaks, that means the main players really want to wash out the market, and we should withdraw first and come back once it stabilizes. In the crypto market, the worst thing is “holding on for dear life” and “guessing blindly.” Following the funds and focusing on key levels is more reliable than anything else.
To speak from the heart, this market is like a roller coaster; it looks thrilling, but as long as you grab the right “safety belt” (support level) and “directional marker” (funding flow), you won't be afraid of being thrown off. Yangyang will monitor the market until dawn every day, organizing the latest whale movements and technical analyses into notes. Those who follow me know that I never hold back before major market movements.
