Today, the Ethereum market is a bit overwhelming, making it a prelude to the battle between bulls and bears.
News: Three major events, dancing on the knife's edge.
Cash out by the founder: This afternoon, an address associated with the founder of Lido sold 14,585 ETH at an average price of $2,928, cashing out over $42.7 million. This action itself is a signal that requires caution.
At 9:30 PM tonight, the U.S. will announce the November non-farm payroll data. This is a significant event that affects the short-term sentiment of global risk assets, and the market is holding its breath in anticipation.
Currently, around $2,800, there is a liquidation pressure from long positions worth about $849 million. This means that if the price falls below this critical level, it may trigger a chain of forced liquidations, exacerbating the downward trend. Conversely, there is also a large pressure from short positions above $3,000.
The rebound is weak, and the weakness is evident. From the 1-hour chart, the day's rebound showed signs of fatigue near $2,950, failing to even touch the $3,000 mark. The price has now fallen below the middle band of the Bollinger Bands, and major technical indicators show insufficient momentum, belonging to a typical weak consolidation, with trading volume shrinking as everyone waits for the evening data to indicate direction.
Tonight, Brother Niu's thought process, in the face of this intertwined situation of bullish and bearish news, is that the core principle is: watch more and act less, take advantage of the situation.
It is recommended to maintain a wait-and-see approach before and after the data release. If after the data is released, ETH can stabilize in the $2,950-$2,980 area with increased volume, then short-term sentiment may warm up, and light positions can be considered for long. Conversely, if it effectively falls below $2,900, downward space may open up, with the next target looking towards the $2,800 area.
Regardless of which direction you choose, you must set stop-losses in advance. Near important data and key price levels, the market's instantaneous fluctuations will be very intense, and strict discipline is your only armor for protection.
The market is always full of opportunities; what it lacks is the patience to wait for opportunities and the preparation to seize them. Tonight, let the bullets fly for a while. I am Brother Niu, seeking progress steadily.
#加密市场观察 #ETH走势分析