ETH Whipsaw Causes Excitement? Sideways Trading Has a Reason

The accidental trade that caused a stir in the crypto world early this morning didn't shake ETH at all. It remains sideways or consolidating—after reading, you'll instantly understand the current market logic 💡

Actually, this accidental trade was just a small incident on a single platform: an employee accidentally sent out 620,000 BTC. The platform recovered 99.7% within half an hour. Major exchanges were unaffected, and ETH only experienced a slight dip followed by a quick rebound—complying with no systemic selling pressure~

Right now, ETH is a classic case of bulls and bears stalemating:
✅ The support zone at 1980-1888 is holding strong, with bottom-fishing funds holding tightly, unable to fall further
🚫 The resistance zone at 2130-2180 shows clear selling pressure, with trapped and profit-taking orders all concentrated there, preventing upward movement
Plus, most of the negative news from previous regulations and Federal Reserve interest rate hikes has been digested, and with no new news over the weekend, funds are on the sidelines. Trading volume has decreased, naturally causing the price to stay within the range~

💡 Short-term trading strategy is very clear:
▫️Hold steady above 1980 with a small position to test long, target 2130-2180, if it breaks below 1980, go for 1888
▫️Face resistance at 2130 with a small short position, target 1980-1888, if it breaks above 2180, exit quickly
▫️During sideways trading, avoid chasing orders blindly! Wait for a confirmed breakout before acting to avoid being caught in a double whammy of bulls and bears

Currently, it's a bottoming and accumulation phase. The longer the sideways consolidation lasts, the stronger the subsequent breakout could be. Keep a close eye on the key range of 1980-2180.