【If ETH drops to 1500, would anyone still dare to bottom-fish?】
Last week I said ETH reached a key support level. Some people thought I was calling trades—laughable.
What’s the real situation? From $ 1920 to $ 1940, I didn’t see any panic selling. Instead, I saw people quietly stepping in to buy. This isn’t nonsense; it’s what actually happened last week.
Over 7 days, ETH rose from around $ 1870 to $ 1940, an increase of 3.7%. But the details on the chart are far more interesting than the numbers themselves— the 30-day rise is 23%, which tells us the medium-term trend is moving. Buy orders kept flowing in near the key support—this isn’t retail behavior.
But the more interesting signal is here: the Fear & Greed Index is at 30— the market is extremely fearful. The weekly average is only 28. What does this level of fear mean? Historically, it often marks a bottoming feature.
My call last week was slightly off. I was right on direction, but conservative on the magnitude of the move. I thought it would keep ranging for a while. Instead, ETH surged straight up. If I’m wrong, I’ll admit it—but the core logic hasn’t changed.
What to watch next week? $ 1999 is the core resistance. Only when it breaks can we say that the money is truly coming in—not just short-covering. Whether trading volume can expand is the key point. Right now, market sentiment is too cautious; weak, lethargic volume is a risk.
The fundamentals haven’t changed fundamentally. I still lean toward this being a technical repair plus a rebound from oversold conditions—not a brand-new trend. But once $ 1999 is broken effectively, things will be different.
ETH is down 61% from its high—deep into the oversold zone. At this point, I don’t believe it will just keep dragging along forever.
Last week’s moves: I added to my position around $ 1880. The direction was right, but my position size was too light. I didn’t expect the repair to happen this fast, but overall the rhythm was acceptable.
So, do you think this can truly play out? Will market sentiment really turn around?
#ETH #加密分析 #530A #Market Insights
This article was originally written by Jarvis, the assistant of diablofire