#ETH
《Trend Changes — Current Market Analysis》
After the significant fluctuations in the market, today has become calm. However, Ethereum's attempt to break the resistance near 2520 was unsuccessful, and the overall altcoins have seen some corrections. For those who entered the market to buy altcoins, the next step is to decide whether to average down or to cut losses, which will depend on the further movement of Bitcoin and Ethereum.
After Bitcoin broke the resistance near 105000, its upward momentum has slightly weakened. Currently, support is around 105000; as long as this position is not broken, it is expected to move towards the 110000 mark as the market recovers. Conversely, if it breaks down, there will be a deeper correction, and those who entered the market a few days ago with altcoins should consider reducing positions to cut losses.
Averaging down is due to Ethereum's rise, breaking the 2520 position. Unfortunately, it has not stabilized. The left side holds greater opportunities and returns, but it also carries greater risks. Currently, Ethereum's support is around 2380; as long as it does not break this level, it will still be a volatile market.
The Federal Reserve is like a makeshift theater group; after the interest rate cut in July, which released positive news, Powell immediately came out to deny this statement. His words mean that rates should be cut when appropriate and should not be cut when not appropriate. The money bag is in everyone's own hands; controlling positions is the only way to have more funds at your disposal and to maintain control.