Current market review
ETH is currently in a sideways oscillation in the 4280–4320 range, with both bulls and bears fiercely contesting this level. From a technical perspective, the 4-hour chart shows a bullish alignment of moving averages, MACD is operating with a golden cross above the zero line, and RSI is in the strong zone; the overall structure still leans towards bullish. Key resistance is at 4380, with the second resistance around 4450; key support below is at 4215, with the second support at 4150.
News interpretation
At 20:30 tonight, the initial jobless claims for the week ending August 16 will be released, along with the August Philadelphia Fed Manufacturing Index.
If the data is positive (unemployment rises, manufacturing weakens): the US dollar index will be under pressure, risk assets will gain momentum for a rebound, and ETH is expected to break through the 4380 resistance level, heading towards the 4450 target!
If the data is negative (strong economy, increased interest rate expectations): short-term selling pressure may be triggered, ETH may retrace to the 4215 support level, but the long-term bullish structure remains intact; any pullback is an opportunity to enter!
Iron Eagle's perspective
I assess that the probability of positive data tonight is high! The US job market shows signs of slowing down, and manufacturing data expectations are not optimistic. Once the data aligns, ETH will leverage bullish momentum from the technical side to break through 4380 and aim for 4450! Even if there is a short-term decline, the area around 4215 is also a strong support zone, and institutions are likely to accumulate here; we still look forward to new highs!
Operational advice
Positive breakout at 4380: chase long positions, target 4450, stop loss at 4350.
Negative pullback to 4215: build positions in batches, target 4280–4300, stop loss at 4180.
Sideways continues: buy high and sell low in the 4280–4320 range, follow the trend on a breakout.
Iron Eagle reminder
At 02:00 tonight, there will also be the Federal Reserve's meeting minutes and speeches from several officials; be sure to pay attention to changes in liquidity! The overall trend for ETH remains upward; any pullback is a good opportunity to position. I am Iron Eagle, focusing on cryptocurrency market analysis. Like + share, tonight we will witness the market explosion together!
The market is dangerous; unity is necessary to win! Iron Eagle's strongest team only accepts those with inflated ambitions!
$ETH