Technical Analysis: The battle for the middle band of the Bollinger Bands is on, key points have been locked in!
Currently, ETH's 1-hour K-line has quickly fallen from the upper Bollinger Band to near the middle band, with both bulls and bears fiercely contesting the critical support at 4265! If it stabilizes here, the rebound momentum will directly challenge the upper pressure zones - 4350 (short-term pressure) and 4460 (strong pressure zone). Attention! Currently, MACD shows a golden cross, but the volume has not fully exploded, so be wary of false breakout traps!
Heavy sell orders are densely distributed in the range of 4280-4283 (suspected institutional orders). A breakout requires increased volume; support below is at 4108 (key support) and 4067 (major order defense line). The commission ratio is currently negative (-0.35%), indicating short-term selling pressure, but the main force's support orders suggest limited downside!
News: Powell's speech tonight at 22:00 will determine the situation!
Federal Reserve Chairman Powell will speak at the Jackson Hole Global Central Bank Annual Meeting, with the market leaning dovish (bullish). If signals of interest rate cuts or easing are released, ETH could break through 4350 and even aim for 4460! Conversely, if hawkish statements are made (bearish), it may retest the 4108 support or even test the 4067 bottom line! Note: News volatility will amplify market fluctuations, so be sure to trade with light positions and stop losses!
Mig's personal view: Ambush long positions? Beware of the trap of enticing long positions!
I believe ETH's short-term trend still leans bullish, but 4365 is the true signal for bullish initiation! If it stabilizes here and Powell is dovish, one could chase long positions to 4460; if bearish and it breaks 4108, wait for a rebound opportunity near 4067. Remember: A reversal often accompanies the release of news, do not blindly chase highs or sell lows!
Key points: The critical areas to watch for future trends!
Breakout signal: 4365 (if stabilized, bullish strength will emerge)
Reversal risk: 4108 (breaking below will accelerate the drop)
Ultimate Ambush Zone: 4067 (Institutional orders are dense, rebound probability is extremely high)
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