#数字货币市场洞察 ETH’s recent performance has been fierce, but the undercurrents can’t be ignored

Today, ETH’s 4-hour chart is indeed eye-catching. Trading volume has exploded, prices have surged all the way up, and market sentiment is at a peak. However, looking at it calmly, this frenzy may be brewing a significant pullback.

First, let’s talk about technicals. Although the MACD indicator is still running above the zero axis and looks strong, a closer look reveals signs of divergence between the yellow and white lines—from the previous upward crossover, it’s gradually turning into a possible downward crossover. This often signals that the upward momentum is fading.

What’s even more concerning is the RSI and MFI. Both have entered overbought territory, making the market’s overheating obvious. Historical experience tells us that this state is hard to sustain for long. It’s like a spring compressed to its limit—the rebound when released is often surprising.

Key price levels to remember:
Above, 3225 and 3100 are major resistance zones—chasing the price near these levels carries huge risks and could actually be shorting opportunities. On the downside, supports are found at 3013, 2905, and 2820. If a pullback does occur, the 3013–2905 range could be considered for short-term trades, while around 2820 is the ideal spot for medium- to long-term positions.

Now for the news. Recently, Bank of America approved wealth advisors to recommend allocating up to 4% of client assets to cryptocurrencies—a landmark move signaling that traditional financial institutions’ attitudes toward this market are changing.

But it’s important to realize that institutional funds operate very differently from retail investors. They position themselves in advance, often completing their entries before positive news is made public, and may use the news hype to reduce positions and sell. With technicals now extremely overbought, this policy boost is likely acting as cover for big money.

In the short term, ETH may continue to test the 3100 or even 3225 highs on momentum and sentiment, attracting the last batch of buyers. But from a mid-term perspective, a pullback is more likely, with the target zone probably falling in the 2905–2820 range.

The market always swings between greed and fear. Now is the time to stay clear-headed.