ETH's weekend performance has been relatively stable, with Friday night's low not being breached. Although there is short-term resistance, overall it is not a bad thing.
If the market remains stable before the US stock market opens on Monday, it will form a positive signal for the future. Even if there is still a possibility of a dip later, the expected lower range is not below around 4350, and it is also reasonable to reach a new high directly without a pullback.
From a macro perspective, there is a lack of clear incentives for further declines. The rise in PPI is mainly driven by financial sector data, which is essentially a result of the US stock market rise pushing up fund management fees. It is expected that core PCE will not rise significantly, and the market still maintains a 90% probability of a rate cut in September.
Overall, the pullback has been completed, and September will most likely welcome a new round of rising market trends.
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