I am Bai Yue. Today, there was an explosive piece of news in the market. Looking at the situation, it’s simply a grand drama! On one side, institutional investors suddenly dumped shares to cash out, while on the other side, the technical chart remains as steady as an old dog. The bull-bear duel is right in front of us; who should we retail investors trust? Don’t panic, let me clarify this for you.
First, let’s talk about the news: Is a 'bearish' sentiment being digested by the market?
The most explosive news today is that the US stock market company ETHZilla, which holds a large amount of ETH, sold more than 24,000 ETH in one go, raising about 74.5 million USD to pay off debts. As soon as the news broke, its stock price fell nearly 4% yesterday while the US stock market generally rose. On the surface, this is definitely a selling pressure, indicating a short-term bearish sentiment.
Bai Yue believes that, first, selling coins is to redeem tickets; it is a planned operation, not a panic sell.
Second, and more importantly, the company has clearly stated that it will no longer focus on trading coins and will transition to RWA and tokenization business. What does this indicate? It indicates that the focus of these institutions' strategies is changing, from simply hoarding and trading coins to using blockchain technology to engage in more imaginative real asset on-chain business. This is actually a good signal for the long-term story upgrade of the entire ETH ecosystem. Therefore, this "bad news" has a bit of the flavor of "bad news out of the way is good news." If you don't know how to find the right timing, you can pay attention to Bai Yue, who will analyze in real-time in the village and provide the best entry points!
In the current situation, is the bulls gathering strength to attack, or is a deep washout needed? Do you think ETH can surge to 3180 in one go this time?
Let's look at the technical side again: The chart tells you that the bulls are not backing down at all!
Let's take another look at this 4-hour chart I posted; the amount of information is huge:
Price is strong: Current price is 3018 USD, firmly standing above the psychological barrier of 3000 USD.
Key levels are clear: The rebound pressure to break through above in the short term is at 3080 USD, and the strong pressure further up is at 3180 USD. For the support below, look at those dense buy orders in the chart, which are thick around 3017, indicating that there is capital protecting the market.
Indicators are strong: The yellow and white dual-line indicator below is firmly holding above the 0 axis, which is a typical signal of a strong zone. Looking at the trading volume, there were obvious signs of a breakthrough with increased volume earlier, indicating that real money has entered.
Health of the form: The overall structure of the K-line has not deteriorated, and it is oscillating at a high level to digest, which belongs to a rest in the process of rising. If you don't know how to find the right timing, you can pay attention to Bai Yue, who will analyze in real-time in the village and provide the best entry points.
Words of sincerity for retail brothers:
For those heavily invested: Hold on! As long as the price does not effectively break below the strong support level of 3000 USD, don’t scare yourself.
For those lightly invested or in cash: Don't chase the highs! If it retraces to the support area of 3015-3000 USD and stabilizes, consider buying in batches.
Everyone should remember: Set a stop loss. If it effectively breaks below the 2980-3000 region, it’s best to step back and observe in the short term, as preserving capital is always the top priority. If you don't know how to find the right timing, you can pay attention to Bai Yue, who will analyze in real-time in the village and provide the best entry points.
Bai Yue's personal opinion:
My view is that the news of ETHZilla selling coins in the short term may cause some emotional disturbance and price fluctuations, but this wave of selling pressure has already been absorbed by the market significantly. In the medium to long term, institutions turning to RWA narratives actually adds points to the future application of ETH. The bullish pattern on the technical side remains intact, and after the oscillation, it is highly likely to choose a direction. The market always has opportunities; the key is to operate calmly. Bai Yue will continue to help everyone keep an eye on the on-chain dynamics, and we will move forward steadily together! Pay attention to Bai Yue and participate in every attack by the villagers of Bai Yue! Bai Yue will announce specific entry times and real-time news daily in the village!
The market always has opportunities; the key is to operate calmly. Bai Yue will continue to help everyone keep an eye on the on-chain dynamics, and we will move forward steadily together! Pay attention to Bai Yue and participate in every attack by the villagers of Bai Yue! Bai Yue will announce specific entry times and real-time news daily in the village!
