ETH’s Epic Rebound: Bulls Charging or Just Gaslighting Us? 😂

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Ah, Ethereum, my volatile friend. It’s rebounded like a cat nine lives from those late September lows, clawing its way back toward resistance levels. Momentum’s flipped, sure, but with overbought vibes and grumpy supply zones lurking, this could all turn into short-term drama faster than you can say “oh no, a dip.” 😏

Technical Analysis

By Shayan (because who else would dissect charts with a magnifying glass?)

The Daily Chart

Looks at the daily chart, folks-ETH‘s chilling above $4,500 in its cute little ascending channel, reclaiming $4,000 like it was nothing. But now it’s eyeballing that pesky $4,800 resistance that rudely capped past parties. RSI’s lounging at 57, all neutral and zen, meaning more room to run if enthusiasm doesn’t fart out. Staying above $4K keeps the bull party going, and a daily slam above $4,800? Boom, all-time highs over $5,000, like the crypto gods raining confetti. On the flip side, as long as that 100-day moving average doesn’t sneak out below $3,900, we’re still in bullish bliss. Otherwise, it’s like inviting the bears to your dream housewarming. 📈

The 4-Hour Chart

Diving into the 4-hour chart, ETH blasted off from the $3,900 demand block, snagging $4,200 and gunning for $4,500 like it had a hot date. RSI’s spiked over 70, overbought as heck, and guess what? A tiny pullback’s already waving. Momentum’s fierce, but supply at $4,600 might yell “not today, Satan.” Consolidate above $4,200, and we’re talking another push higher-yay! But drop below? Retracement to $3,900-$4,000, breaking the ascending channel and flipping the whole vibe to bearish. Channel me not, crypto! 😂

Onchain Analysis

Exchange Reserve

Exchange reserves for ETH have tanked to 16.1M-steady decline over years, like hoarding them in your closet away from the exchange where bad decisions happen. Fewer coins on exchanges mean less panic selling, a mega-bullish nod that screams accumulation and rallies. It’s hitting lows unseen for ages, keeping the medium-term outlook sunnier than a whale’s trust fund. Just don’t let futures get all liquid via a cascade; that’ll crash the spot mania like a bad party nobody invited you to. Remember, kids: balance is key, unless you’re a crypto trader, then it’s all chaos and emojis! 🚀

 

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2025-10-03 19:00