Market trends are born in despair, rise in hesitation, and perish in madness—tonight's unemployment insurance data may be the last push for ETH to challenge 4800!

Trend analysis

From ETH's 1-hour K-line chart, ETH is currently in a clear upward trend. The price has broken through multiple key resistance levels, currently hovering around 4700, and from the technical indicators, the bulls are in control.

Support and resistance levels: The support level is around 4560, which has acted as support multiple times recently, indicating strong buying power below. The resistance level is around 4794, which is a key resistance level that needs to be broken; once broken, it may further open up upward space.

Technical analysis:

MACD indicator: The DIF line and DEA line are at a high level, and the MACD histogram is above the zero axis. Although the length of the histogram has shortened, it is still in the bullish zone overall, indicating that upward momentum still exists.

RSI indicator: The RSI indicator is in the overbought zone, but there is no obvious top divergence signal, which means the price may still have some room to rise, but short-term pullback risks also need to be noted.

Trading volume: Recently, trading volume has increased, especially during the price rise, showing a good combination of volume and price, indicating high market participation and obvious capital driving.

News:

Tonight's U.S. unemployment insurance data may have a significant impact on ETH's trend. If the data is positive, meaning the number of unemployment insurance applicants is lower than expected, it indicates a strong U.S. labor market and an improving economic situation, which may enhance market risk appetite, attracting more funds into the cryptocurrency market, thus driving ETH's price up.

On the contrary, if the data is negative, and the number of unemployment insurance applicants is higher than expected, it may trigger market concerns about the economic outlook, leading to a sell-off of risk assets, which may put certain pressure on ETH's price and result in a pullback.

Market trend analysis

Combining the current technical analysis and market sentiment, if tonight's U.S. unemployment insurance data is positive, there is indeed a significant possibility for ETH to challenge the 4800 mark, or even break new highs. This is because the current market has a strong bullish atmosphere, the upward trend is quite obvious technically, and positive data will further stimulate the market's enthusiasm for buying.

However, potential risk factors cannot be ignored. First, the RSI indicator is already in the overbought zone, indicating a demand for price pullback in the short term. Second, 4800 is an important psychological level and resistance level, and breaking through it is not easy; it may encounter certain selling pressure.

Long's view:

Overall, tonight's U.S. unemployment insurance data is a key factor affecting ETH's trend. If the data is positive, ETH is expected to challenge 4800 and may break new highs, but attention should be paid to the pullback risk brought by short-term overbought conditions; if the data is negative, ETH may experience a certain degree of pullback, with support levels to watch around 4700 and 4560. Investors should closely monitor the market reaction after the data is released, manage their positions reasonably, and take precautions against risks.

Bull markets drop sharply, bear markets rise sharply—tonight is ETH's opportunity or trap? Follow Long, avoid the pitfalls, and accurately bottom fish!#美国失业金