ETH's performance over the past 48 hours has been weak, like a flopped salted fish. Last night, it suddenly tested downwards continuously, triggering whale orders, pulling the price back from the 3000 dollar edge. Now it's hovering around 3120. Is this rise going to take off, or is it just a dead cat bounce? We need to dig deeper!
News: Whales in a brawl, a silent battle between bulls and bears.
First look at 'BTC OG Insider Whales', crazily switching to ETH. Last night, ETH plummeted, nearly 'sweeping' the buy order of around 92.7 million dollars in the 3030 - 3150 dollar range. Now holding a total of 670 million dollars, but facing an unrealized loss of up to 22 million dollars, still holding on with leveraged long positions, and even showing signs of adding to positions.
On the other hand, whales shorting by borrowing coins are also up to something. In the past 8 hours, they withdrew 38576 ETH from Binance, hoarding at low prices, clearly planning a move.
Putting these two pieces of news together creates an explosion of information! On one side, the 'insider whales' continue to accumulate despite being trapped, while on the other side, the shorting whales are buying back. This indicates that whales are strongly inclined to 'buy' at this position, signaling bullish sentiment for the future market. Want to time it right? Pay attention to the market dynamics, with real-time reminders every 24 hours to keep everyone in sync with market trends!
Technical aspect: Short-term longs have potential, but the daily chart remains weak.
1-hour K-line: Counterattack
Last night, there were two consecutive downward spikes, with a low of 3022 quickly pulled back, forming a double-spike bottoming pattern. Currently, the price is above the middle band of the Bollinger Bands, attempting to attack the upper band. The MACD shows signs of a golden cross below the zero axis, with green bars emerging, indicating a strengthening of short-term momentum and the potential for a rebound.
Daily level: Desperate struggle
The daily chart is not so optimistic. ETH is still being suppressed below the middle band of the Bollinger Bands, the MACD line is flat, and there's no significant upward turn. The overall downtrend hasn't changed; 3300 is the 'line of life and death'. If it can't break through, the bulls will struggle to achieve much.
ETH is currently like a patient just rescued, with a heartbeat but weak. Whale operations have injected a strong dose of adrenaline; whether it can recover depends on the 3300 'check-up report'. In a volatile market, don't chase the highs and lows; set your stop-loss and wait for key positions to confirm. The waves are big, but don't let the boat capsize first!
Market insight: Different styles, different strategies.
Radical
Currently, you can try shorting with a light position, aiming for 3050 - 3000. Remember to set a stop-loss; don't try to hold out like the whales. Proper risk control is essential for longevity in trading.
Stable
Patiently wait for two signals: first, the daily closing price must stabilize above 3300; second, the MACD must form a golden cross. Confirm these before proceeding; safety is key, especially in a volatile market.
Personal opinion: Whales are signals; key trends should be observed.
Whales are not 'gods', but they are market signals. There is substantial capital support at this price level. Their 'pain' may bring a short-term rebound, but don't follow blindly, as whales can also get liquidated.
Short-term outlook is for a rebound. The 1-hour double spikes and MACD golden cross support ETH's push towards 3200 - 3300. However, this is a rebound, not a reversal. Until the daily MACD turns positive and the price stabilizes above 3300, don’t call for a return of the bull market.
Unclear about entry and exit points? Friends holding positions should pay attention to the market dynamics, which will announce daily coin types and entry/exit timing every 24 hours in the 'village'. Keep up with the rhythm to find opportunities even in a volatile market!
In summary, the current ETH market has points of contention. Combine whale movements and technical signals; don't act impulsively, wait for key signals. Following the right rhythm can help you profit from the fluctuations. Pay attention to the market dynamics and let's closely monitor the situation to seize opportunities!
