In the news flow, U.S. inflation data cooled, boosting expectations for rate cuts. Treasury yields fell, which is favorable for crypto growth assets. During the day, a large number of short liquidations boosted this rally. Total Ethereum staking remains stable, and the Layer-2 and RWA ecosystem continues to expand, providing solid long-term value support. However, spot ETH ETFs saw a slight outflow, institutions trimmed positions on the rise, and funds also modestly rotated into BTC, limiting the upside. There is no major regulatory negative at present.
Technically, near-term strong resistance is at $1,940. Only if the price holds above this level can upside momentum open up. Key support lies at $1,860; a break below would likely lead to a retest of the $1,800 area. On the daily chart, bullish MACD momentum is still present. RSI is approaching the overbought zone, and in the short term there may be a need for pullback and correction. Short-term moving averages provide support across the board, and the Bollinger Bands are opening upward. Overall, the market is biased to the upside and range-bound, but it is not advisable to chase longs at high levels. Instead, wait for a pullback to support before going long, and pay close attention to whether resistance at $1,940 breaks out with increased volume.
Recommendation: Go long around 1,900–1,880, target 2,000.
Technically, near-term strong resistance is at $1,940. Only if the price holds above this level can upside momentum open up. Key support lies at $1,860; a break below would likely lead to a retest of the $1,800 area. On the daily chart, bullish MACD momentum is still present. RSI is approaching the overbought zone, and in the short term there may be a need for pullback and correction. Short-term moving averages provide support across the board, and the Bollinger Bands are opening upward. Overall, the market is biased to the upside and range-bound, but it is not advisable to chase longs at high levels. Instead, wait for a pullback to support before going long, and pay close attention to whether resistance at $1,940 breaks out with increased volume.
Recommendation: Go long around 1,900–1,880, target 2,000.