$ETH Daytime Sniping: Which Side of the US Stock Market Can This Fuse Ignite?
ETH spiked to $1775 in the early morning but was immediately pushed back down by the MA5/MA10 double moving averages, currently priced at $1735, down 0.35%. The daily chart's descending channel is locked in, with a massive selling pressure zone between $1770-$1785. On-chain data shows that the supply of ETH on exchanges has surged to a two-month high, creating a selling pressure akin to a ticking time bomb above. The latest hawkish statements from the Federal Reserve have shattered market sentiment, with Nasdaq futures plummeting 1.2% and Coinbase pre-market crashing 3%. This fuse is already sparking.
US Stocks Closing Determines Fate
If the S&P 500 stays above 5250 points tonight, ETH may get a little boost, but it must violently break through the $1750 dense resistance area, otherwise, it's all just a façade. If Bitcoin loses the $63,000 support line, the altcoins will inevitably be dragged down. Counter-scenario: If the US stocks break through the 5200-point support, ETH's previous low of $1715 absolutely cannot hold, and the strong support area at $1690 might become a massacre zone.
Technical Deadlock Breakthrough
The 4-hour Bollinger Bands have narrowed to a suffocating range of $1730-$1750, with MACD lying below the zero line for 26 hours, and KDJ's three lines twisted into a ball — this kind of market that even dogs disdain is just a fuse away from a breakout. On-chain whales are synchronously falling apart, with addresses holding over 50,000 ETH dropping to an annual low, indicating a clear direction from market manipulators.
Spike Warning: There will definitely be bloodshed around 11 PM tonight before the US stock market opens!
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