$ETH range-bound consolidation and pullback washing; the larger long structure remains intact
ETH has been oscillating within a range for three straight weeks, repeatedly attempting to break the 2530-2545 resistance zone only to be pushed back. Many people may mistakenly think the market is about to turn bearish.
But on the daily chart level, the price is still holding steadily above the major EMA lines. The large-scale uptrend structure has not been broken.
During the pullback, the overly heated buying sentiment from earlier has been fully flushed out. The MACD continues to run above the zero axis, which is consolidation after an up move—not a trend reversal.
On-chain, you can see large amounts of coins/positions being accumulated and held by long-term addresses. The available circulating supply that the market can sell is continuously decreasing—this is the confidence of long-term bulls.
For the short term, repeated wick-pokes and grinding up and down are only washing out less determined positions. What’s missing now is simply a round of volume expansion. Once there is an effective breakout above the 2535 resistance point, the upside space will open up completely.
Forum/“square” news will be delayed—the Lao Qi chat room is the first-hand signal. After that, Lao Qi will analyze the具体 (detailed) trading ideas in real time at the first moment👇👇👇#AnthropicCEO呼吁放缓AI发展 $BR
ETH has been oscillating within a range for three straight weeks, repeatedly attempting to break the 2530-2545 resistance zone only to be pushed back. Many people may mistakenly think the market is about to turn bearish.
But on the daily chart level, the price is still holding steadily above the major EMA lines. The large-scale uptrend structure has not been broken.
During the pullback, the overly heated buying sentiment from earlier has been fully flushed out. The MACD continues to run above the zero axis, which is consolidation after an up move—not a trend reversal.
On-chain, you can see large amounts of coins/positions being accumulated and held by long-term addresses. The available circulating supply that the market can sell is continuously decreasing—this is the confidence of long-term bulls.
For the short term, repeated wick-pokes and grinding up and down are only washing out less determined positions. What’s missing now is simply a round of volume expansion. Once there is an effective breakout above the 2535 resistance point, the upside space will open up completely.
Forum/“square” news will be delayed—the Lao Qi chat room is the first-hand signal. After that, Lao Qi will analyze the具体 (detailed) trading ideas in real time at the first moment👇👇👇#AnthropicCEO呼吁放缓AI发展 $BR
