Family, I am Mig.
I just stared at the market for a while again, and combined with the news from earlier about 'September core PCE inflation cooling', I suddenly felt a jolt; this time the sideways movement of ETH may not be a break but a buildup for a big move.
Let me first talk about the news that many people may not have understood:
The PCE inflation indicator, which the Federal Reserve cares about the most, has dropped to 2.8%, indicating that inflationary pressures in the US are easing. Why is this news important? Because it directly relates to the Fed's rate cut expectations.
Once the market starts trading on 'rate cut anticipation', expectations for US dollar liquidity will strengthen, and risk assets including ETH will benefit in the medium to long term.
But here comes the key point: The data is from September, while the employment data for November and the inflation data for October are delayed; the Federal Reserve is holding an 'expired map'.
What does this mean? It means that short-term fluctuations may increase, and the market will test the direction in ambiguity.
Let's take another look at the technicals:
Currently, ETH is stuck between 3000-3050, unable to go up or down:
Upper resistance: 3050 → 3100 → 3150 → 3270 (strong resistance)
Lower support: 3000 → 2970 → 2820 → 2750 (bottom structure)
The MACD yellow and white lines are dead crossing above the 0 axis; what does this mean? It doesn’t mean an immediate crash, but rather that the upward momentum is weakening, and there is a short-term need for a pullback. However, if the price can hold at 3000-2970, the dead cross may turn into a 'pullback consolidation', preparing for the next golden cross to spike up.
Mig's view is straightforward: ETH is currently in a 'sideways waiting for a breakout' state. The upper 3050 is the top pressure of the sideways market; before it breaks, all rebounds are just tricks, and spikes are also baiting longs. The lower 3000-2970 is defensive support. If this level holds, we can still expect it to consolidate and build momentum to touch 3100-3150.
But if 2970 is broken, the next landing point may directly go to the 2820-2750 area, creating a 'painting door market'—which means a spike to trick you into getting in, then a sharp drop.
What should retail investors do? Remember these three sentences from Mig:
If it doesn't break 3050, don't chase the long position easily; it's better to miss out than to make a mistake.
Place orders near the support level, for example, try a small long position between 3000-2970, with a stop loss below 2950.
If it breaks below 2970 and can't rebound above 3000, consider going short, targeting 2820-2750.
If you often find it hard to understand whether the news is good or bad, can't tell where the true support and resistance are, always see drops when you buy and rises when you sell, and feel like you're always getting tricked, then it might not be a lack of luck but a lack of someone who can help you see the direction in advance.
Want to know how my brother Mig survived the spike and executed precise ambushes in the village? Follow Mig and join every attack by the villagers! Mig will announce specific entry times and real-time information every day in the village!
