The market in recent days has been simply "desperate tug-of-war"!!!
Non-farm payrolls exceeded expectations, CPI is about to be announced, and Japan's interest rate hike will land tomorrow. Overall, the news is bearish, and market sentiment has tightened to the limit!
But what is most distressing is not the wild fluctuations, but the back-and-forth "door painting" market over the past month, which has tortured people's mentality to the breaking point!
Is the market's "dead silence" finally going to be broken?
Non-farm payrolls + CPI + Japan's interest rate hike, three mountains pressing down on the market!
The day before yesterday, the non-farm data showed an unemployment rate of 4.4%, higher than expected,
directly suppressing market sentiment!
Today's CPI is announced, and the inflation data will determine the short-term market direction: will it be a realization of bad news or has it been fully priced in? Everyone is waiting!
Tomorrow, Japan will likely raise interest rates by 0.25%, increasing to 0.75%, the highest interest rate in nearly 30 years is about to land!
Bearish sentiment has become mainstream, but will the market go against the trend?
ETH technical perspective:
Short-term pressure at 2890, if unable to break through, continue to look bearish!
If ETH rebounds and breaks through the 2890 pressure level today, pay attention to the range pressure of 2980-3000!
Only by breaking through 3000 can the market possibly make a decent rebound; otherwise, all rises are just a trap!
Support levels are concentrated in the 2700-2600 range. If the market spikes to around 2600, consider gradually entering long positions!
But be careful; the current market is dominated by bears, and bottom-fishing should be cautious with strict risk control!
Tonight's CPI announcement may lead to a decisive battle before the storm in the market. Brothers, seize the opportunity and don't let profits slip away!
For those still holding this Ethereum bottom position, you can take a look
