I am Qi He. I just came across a major piece of news. White House economic advisor Hassett stated: US inflation is actually only 1.6%, lower than the Federal Reserve's target of 2%. The Fed has ample room to cut interest rates!
Once this statement was made, market sentiment began to change quietly, and expectations for interest rate cuts increased, making it easier for funds to flow into assets like Bitcoin and ETH. But news is news, and the market is the market. How it really moves still depends on the signals given by the technical charts.
News:
Did you see that breaking news about the 'Federal Reserve having ample room to cut interest rates'? The White House economic advisor personally came out to make this statement, which is no small matter. What does this mean? In simple terms, the expectation for monetary easing is on its way, and as the tide rises, it is a potential big positive for all risk assets, including the crypto market. But don't rush; when trading cryptocurrencies, we can't just react to news. News is the wind, but technical analysis is the ship. Let's steer together and see.
Technical aspect:
The 4-hour chart of ETH shows that the trend is upward, with the price hovering around 2980. The two MACD lines are below the zero axis but have formed a golden cross moving upward, which is a short-term bullish signal indicating that the downward momentum has weakened and bulls are gaining strength.
What should players of this coin do now?
If you already have a position: The current price is 2980. If it approaches the 3050 resistance level, and you have a heavy position with profits, you might consider reducing it in batches and putting the profits in your pocket.
If you are flat and want to enter: Definitely do not chase high at this position! Remember, it’s better to miss out than to make a mistake. Be patient and wait for two positions: Either it breaks through 3050 strongly with volume and stabilizes, then consider it on a pullback. Or, patiently wait for it to pull back to around 2880 to see if it can stabilize before looking for opportunities. 2770 is a stronger support area; if it really gets there, the opportunity might be greater.
Personal opinion from Qi He:
Short-term momentum is bullish, with the first target being the 3050 resistance level. With the news of interest rate cuts, there is indeed a chance to push towards 3050 tonight.
The volume on the chart is shrinking; this is called 'volume-price divergence'. It's like climbing a slope where the accelerator isn't keeping up, and it might slip at any moment. So, if it reaches near 3050 without volume and does not stabilize, it is very likely a false breakout and will immediately reverse.
Key position: If it peaks and falls back, the first station to look at is the critical support at 2880.
I am Qi He from the crypto circle. Hit follow, and I will teach you how to catch this wave of market to get the full fish! If you’re unsure about how to time your entries, I will provide real-time analysis in the village and give the best current entry points. If you are unclear about the specific timing, you can follow me, and I will remind friends who have followed me in the village in real-time for 24 hours.#加密市场观察 #ETH走势分析 $ETH
