【After 94 in 2017, after 5/19/2021, we’re back at this kind of point】
Every time we talk about trading sideways, I always remember a pattern: a truly big move is never triggered by a rally that starts when you finally dare to chase it. After 94 in 2017, it went sideways for almost a month. Everyone said it was over, that everyone should liquidate—but what happened? On 5/19/2021, it got dumped down to 1800, went sideways for less than two weeks, and then it took off. Back then, if you were staring at the chart every day trying to do swings, you would’ve been shaken out early.
Now, ETH is at this point again.
A 45% pullback from ATH—that number feels way too familiar. Historically, this kind of drop isn’t “the dip is over.” Instead, long-term capital begins to think, “This might be worth it.” But the real question now isn’t whether it’s worth buying—it’s *when* it will move.
FNG is 72: greedy but not crazy. In the last 24 hours it’s up 0.3%, and in 7 days up 1.6%. This kind of slow grind is the hardest—stagnant, indecisive, and the window for direction choice is getting close.
Citigroup raised its ETH target to 3028. I saw the news. Institutions hype stocks—listen, it’s fine, but their logic is the ETF inflow. Yet if you actually trade strictly according to the price levels, you’ll find the target price is never meant for you to use.
As for the zkAPI mainnet launch, that’s real progress. Privacy-payment scenarios are landing—does the business logic work? Yes. Is there demand? In the long run, sure. But in the short term, don’t expect this news to pull the market up.
And that MetaMask matter—52,000 ETH exiting staking—scared a lot of people. Luckily, the official statement said there’s no risk. Otherwise, it would’ve triggered another wave of panic. The signal this event gives me is: if even a leading wallet like MetaMask can have something happen, then the psychological “shadow area” for retail investors won’t be small.
Put simply, we’re just waiting now. Waiting for what? For volume expansion. Waiting for that signal you can recognize at a glance.
Resistance at 2799.43, support at 2620.6. Within the range, I choose to stay on the sidelines. It’s not that there’s no direction—it’s just that until the direction is clearly established, moving now has too poor a cost-effectiveness. My hands are itchy, sure, but this time I really didn’t move.
What’s everyone’s mindset right now? Are you bold enough to take this one?
Every time we talk about trading sideways, I always remember a pattern: a truly big move is never triggered by a rally that starts when you finally dare to chase it. After 94 in 2017, it went sideways for almost a month. Everyone said it was over, that everyone should liquidate—but what happened? On 5/19/2021, it got dumped down to 1800, went sideways for less than two weeks, and then it took off. Back then, if you were staring at the chart every day trying to do swings, you would’ve been shaken out early.
Now, ETH is at this point again.
A 45% pullback from ATH—that number feels way too familiar. Historically, this kind of drop isn’t “the dip is over.” Instead, long-term capital begins to think, “This might be worth it.” But the real question now isn’t whether it’s worth buying—it’s *when* it will move.
FNG is 72: greedy but not crazy. In the last 24 hours it’s up 0.3%, and in 7 days up 1.6%. This kind of slow grind is the hardest—stagnant, indecisive, and the window for direction choice is getting close.
Citigroup raised its ETH target to 3028. I saw the news. Institutions hype stocks—listen, it’s fine, but their logic is the ETF inflow. Yet if you actually trade strictly according to the price levels, you’ll find the target price is never meant for you to use.
As for the zkAPI mainnet launch, that’s real progress. Privacy-payment scenarios are landing—does the business logic work? Yes. Is there demand? In the long run, sure. But in the short term, don’t expect this news to pull the market up.
And that MetaMask matter—52,000 ETH exiting staking—scared a lot of people. Luckily, the official statement said there’s no risk. Otherwise, it would’ve triggered another wave of panic. The signal this event gives me is: if even a leading wallet like MetaMask can have something happen, then the psychological “shadow area” for retail investors won’t be small.
Put simply, we’re just waiting now. Waiting for what? For volume expansion. Waiting for that signal you can recognize at a glance.
Resistance at 2799.43, support at 2620.6. Within the range, I choose to stay on the sidelines. It’s not that there’s no direction—it’s just that until the direction is clearly established, moving now has too poor a cost-effectiveness. My hands are itchy, sure, but this time I really didn’t move.
What’s everyone’s mindset right now? Are you bold enough to take this one?