Where is ETH heading tonight? The battle at the 3000 mark is about to begin
Tonight's focus in the crypto market is entirely on ETH, as both bulls and bears engage in a fierce battle around the 3000 USD mark. Will it strongly rebound above 3000, or will it be pressured down to the 2800 integer mark?
The answer will be revealed tonight.
Currently, there are no significant data guides, and the market's attention is firmly fixed on Federal Reserve Governor Waller's speech at 21:15.
It is worth noting that Waller is participating in the next Federal Reserve Chair election and is about to interview with Trump. Every word he speaks may trigger market volatility, and his influence should not be underestimated.
From a technical perspective, ETH is currently still in a box range oscillation pattern.
From the 1-hour candlestick chart, it is not difficult to find that the previous three box breakouts were followed by downward trends, and this pattern suggests that the oscillating downward trend is likely to continue tonight. The market is quietly waiting for the Bollinger Bands to open up to provide a clear directional signal.
From a personal standpoint, I still prioritize high short positions tonight.
If Waller's speech releases a dovish signal, the market may experience a brief rebound, but it will be difficult to change the overall weak oscillating pattern. The performance after the U.S. stock market opens will become a key barometer.
In terms of operations, aggressive traders can enter positions with light exposure at the current price, while conservative traders are advised to wait for the U.S. stock market to open and finalize entry timing based on market sentiment.
The current oscillating market has left many investors in confusion.
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