Brothers, this is unbelievable, ETH has shot up directly to 3200!
A bunch of sand sculptures in the square started cheering, 'Niu Hui, come back quickly.'
The result was fun for less than half an hour, and then it went bang.
Ethereum dropped nearly 50 points from its peak and is now stuck around 3180, dragging its feet.
Is this a reverse pickup or cheese on a trap?
Don't worry, let Bai Ge have a good chat with you.
First, from the news perspective, this wave of rising prices is largely attributed to Ethereum.
The 'Fusaka upgrade' that was bragged about for eight hundred years actually happened this morning!
This time the block gas limit was pushed to 60 million.
By the way, Layer2's fees were cut by 40%-60%, what does that mean?
It’s like widening the road and still getting a discount on the toll!
Looking at the long term, the on-chain is expected to be more lively.
This is like giving Ethereum a shot of adrenaline.
If this doesn’t rise, altcoins are really going to be completely cold.
However, brothers, don’t rush to go all in.
Bai Ge believes: The effect of this medicine on Ether needs to be released slowly, it won’t make you fly immediately.
Why? It’s simple, besides the good news, there is also bad news coming, which is from the little devils.
The central bank governor Ueda suddenly pops out and shouts:
‘Neutral interest rate is uncertain, but nominal interest rates must rise!’
Oh my god, Japan’s 10-year government bond yield has soared to the highest since 2007! What signal is this?
Money in the global pool may need to be siphoned back to fill the debt pit of the dead devils.
The risk market fears this kind of drainage machine the most; in the crypto pond, if the water is siphoned away, what can the little fish and shrimp do!
Then from a technical perspective, the current indicators look like a strong man, but in fact, they are very weak!
Open the 4-hour K-line, it looks pretty impressive: the two lines of MACD have golden crossed below the 0-axis.
It looks like the bulls are about to rise, but upon closer inspection, the RSI has already entered the overbought zone, almost reaching 74.
This is like a drunk man trying to hold it together while being high, he might throw up at any moment.
Ethereum has two resistance levels above: 3370 to 3640, both are tough nuts to crack, don’t even think about chewing them without real gold and silver.
The support below is in the range of 3100 to 2870; if it cannot hold, there is a ‘millennium bottom’ at 2620 below.
Now the trading volume has increased, and the rise is quite happy, but I’m afraid this is just the ‘dog dealer’ handover, pulling up to trick you into taking over.
Especially when the little devils stir things up, if the global capital direction changes, this rebound could instantly turn into a 'trap for the bulls'.
So, brothers, don’t be fooled by the current ETH atmosphere which is indeed bullish.
The upgrade benefits are also real, with 1.1 billion dollars flowing in last week.
The Ethereum ETF has chewed through over 300 million, it seems institutions are coming to bottom fish again.
Over there in Big Beautiful, the market even thinks there might be a rate cut in December, with the probability soaring to nearly 90%.
However! The key is this 'but'! The market has never been a one-threaded silly rise.
It’s like a boxing ring, where two strong men are testing each other, you punch me once, I kick you once.
Emotions, funds, and the macro issues of little days and big beauties are all mixed together.
Especially today, Ueda’s remarks subtly indicate a rate hike, making the global money bags shake three times.
Brothers, you taste it, savor it.
In this game of chess, the players are not just the old buddies in the crypto circle!
So what to do?
Short-term players should pay attention to whether the position between 3220-3250 can stabilize with volume.
If it stabilizes, there’s still a chance to go up; if it doesn’t stabilize, heh heh, a pullback could be a matter of minutes.
Additionally, the overall network contract positions have increased again, and the RSI is still overbought.
Be sure not to hurry to chase high, being anxious is equivalent to putting a noose around your neck.
A violent fluctuation, and you could directly blow up and get boxed lunch.
This Friday, Big Beautiful's non-farm payroll data, and next week their Federal Reserve meeting.
This is an important piece of news affecting market trends, and it deserves our attention.
Finally, Bai Ge wants to say: the long-term story of Ether is quite nice, and short-term funds are also joining the fun.
But with the macro drainage looming overhead, the technical side is also gasping for breath.
Is it a fake fall to wash the plate and then continue to rush, or are good news turning into bad?
I think both are possible; as retail investors, let’s not always fantasize about eating the whole fish, the fish head and tail have many bones that can easily choke you.
The most reasonable operation is: watch the big trend, find the right position, control the position, don’t be greedy or fearful.
Surviving in the crypto world is the ultimate truth; the most fatal pitfall in trading is: an anxious mindset.
Lost in a hurry, earned in a hurry, thus various all-ins and impulsive actions.
Such people are often tightly squeezed by the big players in the end.
Always remember that the big players taking your money is simpler than opening their fridge for a drink.
As long as you are anxious inside, everything will be arranged perfectly.
If you want to further understand the operating strategy, you can join the Binance group or add Bai Ge's ID; the author's pinned article has the method.
