$ETH is now at 2,426, up 6.3% in 24 hours—an even stronger move than $BTC ’s 4% gain.
The move was mainly driven by last night’s 20:00 four-hour candle. Price surged from 2,328 to 2,450 in one go, with trading volume more than four times the usual level. Since then, it has moved sideways between 2,405 and 2,446 for over a dozen hours without giving back the gains.
The futures market looks fairly healthy. Open interest, measured in coins, has barely moved, staying around 2.37 million. That suggests this rally is less likely to be driven by fresh leveraged positions and more likely to reflect short covering alongside spot buying. The funding rate is 0.004%, so things aren’t overheated.
Looking up, the first resistance is last night’s high of 2,450. Above that is the 2,500–2,527 zone: the 50-day moving average is at 2,509, and the October 21 high was 2,527. The market also plunged from that level on October 22, so plenty of holders may be stuck there. A high-volume break above 2,527 would be the real confirmation that this move has turned bullish.
Looking down, 2,405 is the lower edge of the past couple of days’ range. If it breaks, price will probably retest 2,330–2,350, where last night’s rally began and where the 20-day moving average sits at 2,353. Below that is yesterday’s low of 2,226.
One thing to keep in mind: longs account for 65% of retail accounts, with a long-to-short ratio of 1.88, so quite a few people have already jumped in. If 2,405 holds, there may be room to test higher levels; if it breaks, wait for a retest first. I wouldn’t chase below 2,450.
Are you waiting to enter on a pullback, or have you already jumped in?
#ETH走势分析 #Ethereum
This is not investment advice. Manage your position size accordingly.
The move was mainly driven by last night’s 20:00 four-hour candle. Price surged from 2,328 to 2,450 in one go, with trading volume more than four times the usual level. Since then, it has moved sideways between 2,405 and 2,446 for over a dozen hours without giving back the gains.
The futures market looks fairly healthy. Open interest, measured in coins, has barely moved, staying around 2.37 million. That suggests this rally is less likely to be driven by fresh leveraged positions and more likely to reflect short covering alongside spot buying. The funding rate is 0.004%, so things aren’t overheated.
Looking up, the first resistance is last night’s high of 2,450. Above that is the 2,500–2,527 zone: the 50-day moving average is at 2,509, and the October 21 high was 2,527. The market also plunged from that level on October 22, so plenty of holders may be stuck there. A high-volume break above 2,527 would be the real confirmation that this move has turned bullish.
Looking down, 2,405 is the lower edge of the past couple of days’ range. If it breaks, price will probably retest 2,330–2,350, where last night’s rally began and where the 20-day moving average sits at 2,353. Below that is yesterday’s low of 2,226.
One thing to keep in mind: longs account for 65% of retail accounts, with a long-to-short ratio of 1.88, so quite a few people have already jumped in. If 2,405 holds, there may be room to test higher levels; if it breaks, wait for a retest first. I wouldn’t chase below 2,450.
Are you waiting to enter on a pullback, or have you already jumped in?
#ETH走势分析 #Ethereum
This is not investment advice. Manage your position size accordingly.
