Hello everyone, I am Qihe. Every day I share valuable market insights to help newcomers avoid pitfalls. Today, I noticed the ETH one-hour candlestick chart, with prices hovering around 2771. Many players are asking: will it surge to the resistance level of 2910 in one go, or will it turn around and drop to the support levels of 2771 or even 2620? Don't rush, I will clarify this for you by combining technical analysis with the latest news.
News:
The U.S. Labor Department just announced that the October CPI will not be released, and the November CPI will have to wait until December 18. This is no small matter! CPI is inflation data that directly affects the Federal Reserve's interest rate decisions, which is most feared in the cryptocurrency market. Data delays increase market uncertainty, and large funds may be hesitant to act, easily triggering sudden fluctuations. Qihe feels that this news is like a time bomb, which may amplify ETH's volatility tonight, either surging high due to favorable news or crashing down due to panic selling.
Technical analysis:
From the chart, ETH looks like a lion that just woke up. The MACD indicator has crossed above the zero line, which is a signal for an upward trend, indicating short-term rebound momentum. But be careful, the golden cross below the zero line means the momentum is still weak. The key price level is at 2910 above, which is a rebound resistance level, like a wall; if it breaks through, it could go wild. Below, 2771 is the current key level, if it holds, it is safe; if it breaks, it may slide towards the 2620 support. The current price of 2771.09 is right in the middle, with both bulls and bears in a tug-of-war. The order data shows that the commission ratio is positive, indicating slightly stronger buying pressure, but not in large quantities, and the market is still watching.
Qi He's personal opinion:
Tonight, ETH is likely to first attempt to surge towards 2910, as the MACD golden cross supports it. However, there is strong resistance at 2910, making it difficult to break through in one go; it may rise and then fall back, testing the critical level of 2771. If it breaks below 2771, be careful of falling towards the 2620 support. The news front is variable; if the market interprets it as positive, it may boost the rally; conversely, if players panic sell, it could easily decline. Remember, there are no guarantees in the crypto world, so be prepared for both scenarios.
You can refer to this today: if the price breaks above 2780, you can try to go long with a light position, targeting 2910; if it breaks below 2760, first reduce your position and observe, then consider re-entering around 2620. Don't go all in, position control is your lifeline!
If you are unsure about the specific timing, you can follow Qi He, who will provide 24-hour real-time reminders for friends who have followed me.
I am Qi He, accompanying you to grow on the crypto journey, see you around!
