Ethereum 4200 Life and Death Line! At 2:30 AM, Powell's decisive speech: Will the crypto market explode or crash?
After a series of gains, ETH has retraced to the critical support level of 4200 today. From a technical perspective, this is both a defensive point of the uptrend line and a dividing line for market bulls and bears.
Short-term observation:
If it can hold steady at 4200, the next move is expected to challenge the 4500-4600 range;
If it fails to hold, the market may quickly drop to 4000 or even 3800.
The real decisive moment will be at 2:30 AM when Fed Chairman Powell delivers a speech in Jackson Hole.
Market focus:
Dovish comments: Strengthening rate cut expectations, expectations for loose liquidity, the crypto market may welcome another explosion.
Hawkish comments: Suppressing market fantasies, risk assets under pressure, ETH may plunge.
In short: Tonight, ETH 4200 is the lifeline of the crypto market!
For those currently confused and losing money in trading, follow Brother Lu's steps closely and feast on profits!!
