Did everyone not sleep well last night? Ethereum has collapsed along with the US stock market, another Black Friday, and many people are asking: Is 3000 going to hold? Today, let's break down the news and technical aspects to tell you how ETH will play out next!
News: All negative!
US stocks plunged collectively: the Nasdaq fell nearly 1.7%, crypto stocks were almost completely wiped out, all in the red, and market sentiment was directly crushed.
Federal Reserve hawkish remarks: A voting member directly opposed interest rate cuts, saying 'inflation is still too high', and even if rates are cut next year, it may only be 'slight and gradual', suppressing liquidity expectations.
Funds are obviously fleeing: Institutions and large holders are running away, and crypto stocks are falling even more sharply than cryptocurrencies, indicating a sharp decline in short-term risk appetite.
Technical aspect: The 1-hour candlestick has broken the level!
Heavy pressure: ETH has accumulated a lot of trapped positions in the 3300-3400 range, and each rebound is pushed back down. Institutions simply do not want retail investors to break even.
Overall weak indicator: MACD is below the zero axis with a dead cross, RSI is still in the weak zone below 50, after a reduction in trading volume, it suddenly drops with an increase in volume— a typical signal of a downward continuation.
Key support looks here: The 3000 point level is the last line of defense at the 1-hour level. If it breaks, the next support directly looks at the 2940-2960 area, which will likely accelerate the decline.
Today's strategy: Aggressive fans can short at the current price with a small position, aiming first for 3000, and if it breaks, look for support at 2940. Conservative investors can wait for a rebound near 3100 before entering. If you don't know the specific entry and exit points, as well as those holding positions, you can follow me; I will announce the daily cryptocurrency and entry points as well as exit timing in the village 24 hours a day!
Market sentiment perspective: The current market sentiment is weak, whether from the technical aspect of the trapped positions above or the stimulation from last night's news, the bears still dominate the situation. During the day, the market will fluctuate slightly upward, but in the evening, the downward trend will continue. The 3000 point level for ETH is the last line of defense. If you are unsure about the specific entry points, you can follow me for real-time reminders in the village.
The market changes rapidly; want to get exclusive operational insights? Quickly follow me, and I will share more valuable information in the village to help everyone avoid pitfalls and make money! Don't forget, the cryptocurrency market is risky, so it's important to follow the right people!
