Family, the market dynamics have been changing incredibly fast recently! Brother Hao is closely monitoring the market, combining analysts' opinions, to have a good chat about the recent fluctuations of Cardano (ADA) and what the future holds.

First, let’s talk about the key support and resistance levels. In the short term, 4600 is the dividing point of strength and weakness. If the price breaks below this number, it is very likely to test the strong support area at 4400. Looking at the resistance level, 4900 is a breakthrough signal point. Once the price stabilizes above 4900, it opens the channel to 5300 - 5700, and there might even be a chance to challenge the significant level of 6000.

From a technical analysis perspective, ETH is currently in a flag formation stage, which is a continuation pattern, indicating that there is still room for an upward movement. Moreover, the MACD histogram is continuously expanding, and the RSI value is 65, which has not yet reached an overbought state. All signs indicate that the bullish momentum is very strong.

Now let’s discuss the overall market environment. The probability of interest rate cuts in September has soared to 91%! This is mainly due to Powell releasing dovish signals at the Jackson Hole meeting, where he clearly mentioned the need to 'preemptively cut rates' to address the weak labor market. This news is significant and has directly driven risk assets, including ETH, to surge 14% in a single day. Under the expectation of rate cuts, the U.S. stock market's crypto sector has shown a noticeable upward trend, with Coinbase rising by 6.52%, and ETH futures short positions reaching a liquidation amount of 368 million USD, further intensifying the short-term bullish trend.

However, we cannot only look at the optimistic side; there are still risk points in the market. If the employment data in September does not meet the conditions for rate cuts, such as a rebound in inflation, it could likely trigger a correction.

Finally, Brother Hao gives everyone a guide for today’s operations: you can short near 4610 - 4645, with an initial target at 4560, and then further look towards 4518. But everyone must remember, the market is unpredictable, and investment decisions must be made with caution, referring to all aspects of information and considering one’s own risk tolerance.