Why did ETH drop from 2700 to 2550 in just one day
The Federal Reserve's second-in-command warned that new tax policies could drive up prices, creating significant uncertainty in the inflation outlook. Additionally, he expects the U.S. economy to slow down this year but still maintain positive growth.
The key support level for ETH is at 2545. If it breaks below that, it is expected to continue the downward trend. Currently, it's a phase of tug-of-war between bulls and bears, consuming trapped positions and profit-taking. The ongoing fluctuations in this market can be quite exhausting, so it's advised not to enter blindly. Friends who are stuck in short positions this afternoon can hold patiently.
In the evening, if the support is not broken, one can consider making small long positions at lower levels, but make sure to set a stop-loss. Let's see how the situation unfolds. 😂😂
