ETH Bull-Bear Battle! 3150 Key Watershed, Waiting for Directional Decision
Last night, ETH experienced a typical tug-of-war between bulls and bears: it surged rapidly from $2980, briefly touched $3153, and then deep retracted, ultimately stabilizing at the critical support of $3120. The violent fluctuations highlight market divergence.
Technical Core:
Strong Resistance Zone: The $3150 level and the dense resistance area below $3122-$3123 require sustained volume to break through.
Strong Support: The $3120 level has been established as an effective defense line, forming the basis for a bull counterattack.
Volatility Analysis: CPI data triggered a rebound as bearish sentiment exhausted and short-sellers were stopped out; the previous high pressure and profit-taking led to the retraction to $3153; the support at $3120 shows the bulls are holding firm.
Macroeconomic Disturbances:
Federal Reserve Uncertainty: The selection of Powell's successor has begun, increasing uncertainty about policy outlook.
CPI Impact Neutral: The data met expectations but did not change the Fed's wait-and-see stance; expectations for a rate cut in September remain but are unlikely to provide short-term boosts.
Trump Risk: Conflicting calls for rate cuts and trade policy have caused concerns.
Capital Diversion: The yield on 30-year U.S. bonds has exceeded 5%, raising awareness of the "bloodletting effect."
Key to Future Market:
Conditions for Breaking Above 3200: Stabilizing above 3150 + Significant Volume Increase + MACD Confirmation + Fed Releases Clear Dovish Signals.
Downward Risk: Losing the 3120 support could lead to a drop to the 3050-3000 area + Trump tariff details or further spikes in U.S. bond yields might impact.
Conclusion: ETH is at a critical juncture. 3150 is the core battleground, and 3120 serves as the bull defense line. The market needs to digest macroeconomic uncertainties. Retail investors should closely watch key price levels and macro events, remaining cautious.
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