ETH Today's Market: Is the 'golden pit' after the plunge or a 'bottomless pit'? Crow Brother provides an in-depth analysis.
'A day in the crypto world is a year in the human world—how many people's faith has this plunge turned into a 'zero script' today?'

[Market Overview: The 'Three Knives' Behind the Plunge]

From the 1-hour K-line, ETH's current price is repeatedly testing the $1,040-$1,070 range, resembling a diver holding their breath underwater. The middle BOLL indicator (white line) is firmly pressing down on the price, while MACD's underwater death cross green bars are still increasing, a typical 'bearish frenzy' pattern. However, upon closer inspection, there is a slight rebound near the lower track (purple line), indicating that old investors are secretly picking up shares near $1,040.

Today's latest news update:

  1. Federal Reserve's 'hawkish' remarks: Early morning, a Federal Reserve official hinted that 'inflation has not decreased, and interest rate hikes may be prolonged,' causing BTC to lead the plunge, with ETH following.

  2. Whale Activity: On-chain data shows that an anonymous address bought 50,000 ETH (approximately $52 million) around $1,030, but another whale dumped 20,000 ETH at $1,070.

  3. Vitalik's 'Rescue' Failed: The Ethereum Foundation stated that 'the Merge 2.0 testing is going smoothly,' but the market completely disregarded this, treating good news as bad.

[Crow Brother's View: There are 'anti-human' opportunities hidden in the plunge]

For example: In June 2023, ETH also experienced a single-day drop of 12%, but three days later it rebounded violently by 20%. History doesn't simply repeat itself, but it often follows similar patterns.

My Judgment:

Short-term (today): If $1,040 cannot hold, it is likely to find support at $1,000 (psychological level). However, if it can stabilize at $1,050, there might be a 'dead cat bounce' to $1,070.

Medium-term (one week): The key lies in the Federal Reserve's meeting next week. If interest rate hike expectations ease, ETH might rebound to $1,100; otherwise, it could drop to $950.

Trading Suggestions:

Newbie: Don't get anxious! This is a 'blood on the knife edge' market; it's better to miss out than to make mistakes.

Experienced Trader: Can try going long with light positions near $1,040 (stop loss at $1,020), and take profit in batches at the resistance levels of $1,070-$1,080.

[Crow Brother's Soul Question]

'When everyone is shouting 'zero', do you dare to bend down and pick up the bloody chips? Tell me in the comments: Do you think ETH will 'double bottom' or make a 'desperate counterattack' this time?'

I am Crow Brother. Trust institutions and take a stroll in heaven; trust crows and let wealth roll in the grave. If you want to know the latest news or consult about effective breakout points, you can click to follow. Crow Brother will guide you on the bus without getting lost! If I can't do it, feel free to wake me up in the comments!