👉 Evening market analysis $ETH !
From the current market situation and logic, there is significant upward potential for ETH tonight.
If the US stock market opens positively, it will serve as a direct driving force. Funds that previously opened short positions or lingered in the 2465 - 2480 range will be forced to cover their positions during the price surge, creating an "airborne refueling" effect, providing fuel for price increases.
From a support level perspective, if the main force intends to crash the market to accumulate positions in a box range, there was an opportunity last night to dip down to the 2350 or even 2300 area to liquidate long positions, but this did not occur, indicating strong support below. Additionally, without significant negative news, the 2377 - 2300 range is a vacuum for positions, and downward momentum is insufficient.
Considering the distribution of positions, referencing the situation during the last war in the 2550 - 2110 range, there are still some positions held by the operators, providing support for future increases. In terms of trends, if there is a slow increase over 3 hours, along with a strong opening and rising US stocks, ETH is expected to challenge 2600;
Even if the US stock market opens low and then rises, ETH may first experience a slight pullback before surging, forming a bullish left shoulder pattern, with the left shoulder possibly reaching 2668. Therefore, it is highly likely that ETH will exhibit an upward trend tonight, and if the hourly increase can stabilize at 10 points, the above analysis will be further validated.
