It's exploded!!

It's exploded!!!

This recent surge in Ethereum,

Probably caught many shorts off guard.

Large buy orders pushed ETH from lower levels directly upward,

Looking at on-chain data,

It seems to be driven by some big funds.

$ETH ‌ This wave pushed from around $1,757 all the way above $1,825,

The short-term increase is quite significant.

Although it hasn't yet broken through the daily high of $1,848,

The hourly chart clearly shows increased volume.

On-chain data also supports this.

One of the largest long positions with unrealized losses is narrowing, with an average price of $2,265,

Still far from breaking even, but at least there's a breather.

Additionally, the latest news that Tom Lee bought $135 million worth of ETH has spread, boosting market sentiment instantly.

On the macro level, there's a detail: Brent crude oil fell below $80, and the easing of Middle East tensions has improved risk appetite among investors, which is actually good for risk assets like cryptocurrencies. $BTC ‌ Relatively stable, holding above 66,500, without dragging behind.

From a technical perspective, ETH's hourly RSI shows signs of divergence, and the MACD just experienced a bullish crossover, so short-term momentum remains. But the $1,848 level is a daily resistance; to break through it, volume needs to continue increasing.

Whether big funds are truly bottom-fishing or just creating a false signal remains to be seen. After all, the average price of whales is still at 2,265, far from breaking even. If chasing the high, it's advisable to set stop-losses; support at lower levels is around $1,800.

In this situation, entering in stages is more prudent than going all-in at once. Personally, I would wait for a pullback confirmation before adding. Given the current scenario, do you think this is a reversal or just a rebound?
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