New York Trading Guru Discusses ETH Volatility: The Underlying Logic of the 3280-3400 Tug-of-War and Future Market Direction

As an experienced crypto trader, I see this ETH fluctuation between 3280 and 3400 as a classic "bull and bear probing the bottom." The core points are: resistance above can hold, and support below won't break easily.

Let's first talk about the reasons for the volatility: First, the 3400 level is a tough nut to crack. Coupled with Fibonacci resistance and previous profit-taking exits, every attempt to push higher is met with selling pressure. Second, 3280 provides strong support, right at the edge of the previous consolidation range, reinforced by moving averages, so a fall below would attract buy orders. Additionally, macroeconomic factors remain stable; the Fed's rate cut expectations provide confidence, but delays in crypto legislation have kept funds cautious, creating a vacuum that amplifies range-bound trading.

The outlook for the market remains clear: short-term volatility does not change the medium-term upward trend. A break above 3400 signals a bullish breakout. From a technical perspective, RSI isn't overbought, and the daily MACD still shows a bullish structure. As long as it doesn't fall below 3270 support, the consolidation is just building strength. Institutional players are quietly accumulating, and the long-term logic remains intact. Once volume confirms a steady hold above 3400, the next target is directly 3600-3900. If it truly drops below 3280, there's no need to panic; the 3200-3250 zone still offers a bottom-fishing opportunity.

In simple terms, it's a case of "the brave win when paths cross." During this consolidation phase, avoid chasing highs or panic selling. Focus on the 3400 breakout signals and the 3280 support level, and follow the trend accordingly.