【ETH Technology Frontline｜Bull-Bear Game Enters Key Node】
Against the backdrop of undecided policies in beautiful countries, Federal Reserve Chairman Powell has sent out hawkish signals again, emphasizing that there is no rush to cut interest rates, leading to severe market volatility. ETH market sentiment has drastically changed and is facing structural correction risks.
Signs of increased selling pressure are evident:
In the past 24 hours, the total liquidation of ETH reached $40.6 million
▫ Long positions accounted for 64% ($26 million)
▫ Short positions accounted for 36% ($14.6 million)
A surge in inflows to derivatives exchanges: over 77,000 ETH transferred yesterday, setting a new high for several months
On-chain signals are complex and intertwined:
IntoTheBlock: Net flow remains negative (-6,800 ETH), indicating that some investors are buying on dips
Coinglass: ETH open interest surged to $18 billion, with short activity continuing to heat up
Funding rates are negative, suggesting that the downward trend has not yet ended
Key support level:
ETH is currently approaching the actual price range (around $1585), which is a historically strong support level where multiple reversals have occurred. CryptoQuant's view indicates that if this level holds, it could trigger a new round of rebound.
Conclusion:
ETH is at a critical technical inflection point, and market sentiment is sharply divided. Controlling the pace and waiting for trend confirmation is the current Alpha strategy.
