ETH's Decline Reasons Exposed! 8:30 News Unemployment Claims Bearish!! Where is the Key Support?

The recently released U.S. initial unemployment claims data for the week ending August 9 has directly "blown up," causing the crypto market to explode! Combined with the current ETH one-hour candlestick chart, the bearish impact is visibly apparent—ETH price has plummeted, and short-term risks have sharply increased!

1. Data is Bearish: Strong Employment + Rising Inflation, Fed Rate Cut Expectations 'Cool Off'

The latest data at 20:30 shows that the actual number of initial unemployment claims in the U.S. for the week ending August 9 is 224,000, which is even lower than expected! This means the job market is stronger than anticipated, and the economy is quite resilient. More critically, July's PPI is completely bearish—annual actual value is 3.3%, monthly actual value is 0.9%. The PPI reflects upstream production costs, and the soaring data indicates inflation pressure is rising!

2. ETH One-Hour Chart: Technicals Fully Turned Bearish, Key Support in Crisis

Opening the ETH one-hour candlestick chart (Chart 1), the current price is $4591.08, clearly in a downtrend channel! The yellow moving average and light moving average (around $4759.28) act like two mountains, firmly suppressing the price upward, while the latest candlesticks are almost all red (indicating a decline), with bears completely dominating the market.

3. Double Blow: Macroeconomic + Technical Resonance, ETH Hard to Bounce Back in the Short Term

Why is this data impacting so significantly? Because the Fed's monetary policy directly determines market liquidity. Employment data exceeding expectations + surging PPI means that the probability of a Fed rate cut is significantly reduced, and it may even maintain high rates for a longer time. As the 'second brother' of the crypto market, ETH is extremely sensitive to fund flows—funds returning to traditional assets naturally lead to 'blood loss' in the crypto space, and prices can only fall.

Remember, in the crypto market, the 'aftershocks' of macro data need time to digest. If you are unsure about specific breakout points, you can click on the avatar to follow me, Zhuque will remind everyone in the village at all times. Follow me for continuous tracking of ETH trends, help you avoid risks, and seize opportunities! #山寨币谷歌热度创五年新高 朱雀趋势