$ETH ETH Yesterday, amid the stacking of bullish catalysts under dual-policy positives and a squeeze on shorts, ETH saw a rapid surge of about 17%. The prior small-scale structure around 1900 has already completely failed. At this point, one thing to note: the measures announced by the Ministry of Finance yesterday are about at least doubling the liquidity support/re-purchase scale for 10–30 year U.S. Treasury bonds—not simply “increasing the long-term Treasury issuance.” The SEC, meanwhile, did propose new regulatory rules for crypto assets and emphasized a regulatory framework that is more tailored to innovation in the crypto market. Overall, both of these strengthen market risk appetite.
From a structure standpoint, ETH has already moved directly into the earlier heavy pressure zone of 2260–2410, with 2336 currently acting as the first top and the liquidity high point. After such a fast 400-point rally, a spike-and-retrace pullback in the short term is normal profit-taking and digestion. At this stage, it’s not suitable to chase prices higher.
Next, key areas to watch are 2230–2250 and 2180–2200: as long as 2230–2250 holds, the market is still in a strong consolidation at elevated levels. If it continues to retrace toward around 2200 and then receives a valid hold/acceptance, it would be more likely a healthy pullback after a rally. After that, there may still be opportunities to retest 2280–2300 → 2336 → 2410.
Conversely, if 2200 breaks and the rebound cannot reclaim it, the scale of the short-term correction will expand. The next support to look to would be 2100–2130. 2050 will serve as an important mid-term defensive level for this strong trend.
In summary: the larger trend remains strongly bullish, but the short term is already in the profit-digestion phase after entering a heavy pressure zone. Watch 2336 for a breakout, and 2200 for confirmation/acceptance. If 2200 holds, treat any pullbacks as strong and still bullish; only if it breaks down should you gradually reduce expectations for the short-term long structure. Right now, the focus is not on chasing—it's waiting for the first effective retracement structure following this explosive surge.
From a structure standpoint, ETH has already moved directly into the earlier heavy pressure zone of 2260–2410, with 2336 currently acting as the first top and the liquidity high point. After such a fast 400-point rally, a spike-and-retrace pullback in the short term is normal profit-taking and digestion. At this stage, it’s not suitable to chase prices higher.
Next, key areas to watch are 2230–2250 and 2180–2200: as long as 2230–2250 holds, the market is still in a strong consolidation at elevated levels. If it continues to retrace toward around 2200 and then receives a valid hold/acceptance, it would be more likely a healthy pullback after a rally. After that, there may still be opportunities to retest 2280–2300 → 2336 → 2410.
Conversely, if 2200 breaks and the rebound cannot reclaim it, the scale of the short-term correction will expand. The next support to look to would be 2100–2130. 2050 will serve as an important mid-term defensive level for this strong trend.
In summary: the larger trend remains strongly bullish, but the short term is already in the profit-digestion phase after entering a heavy pressure zone. Watch 2336 for a breakout, and 2200 for confirmation/acceptance. If 2200 holds, treat any pullbacks as strong and still bullish; only if it breaks down should you gradually reduce expectations for the short-term long structure. Right now, the focus is not on chasing—it's waiting for the first effective retracement structure following this explosive surge.