Non-farm data exceeded expectations, the Federal Reserve's rate cut expectations have been postponed to July, and U.S. stocks have risen for nine consecutive days. Therefore, the cryptocurrency market is certainly also in high spirits, and prices are firming up. Let's talk about the old favorite ETH that we all care about.

Has the 1800 resistance been broken? In fact, it has not. Currently, gamma ex still shows that the strongest resistance is around the 1800 position, with daily back-and-forth fluctuations. Looking at the volatility, the implied volatility is higher than the realized volatility, but overall both are declining.

From a historical percentile perspective, it is approaching historical lows. So now there are two choices: bet on decreasing volatility and continue to sell calls; or bet on volatility returning and start buying calls.

Personally, I believe that volatility will not rebound easily, as non-farm data suggests inflation, combined with previous stagflation panic, making rate cuts not so easy.

A rate cut is like a carrot, hanging in front of the market to keep it sideways. It's better for everyone to lower their expectations.

Of course, being bearish doesn't mean shorting; Ether will surely go above 4K, that is my belief. Wishing everyone prosperity!

$eth