Tonight there are two bombshell events

Ethereum's evening trend is bearish, short near 2450-2460

Technical signals: Prices are stagnant, the bears need to exert force

From the 30-minute chart, Ethereum is currently stuck between 2450-2460. The MACD bars have turned from green to red, but the red bars are particularly short, like a small flame that could be blown out by the wind at any time. The trading volume has not kept up, appearing as if the bulls are struggling while there is clearly funding offloading at this position, with solid resistance.

Tonight's big events: SEC hearing and futures expiration, risk is at maximum!

1. U.S. SEC Hearing: Although the specific time is not clear, the SEC's recent attitude towards cryptocurrency has been ambiguous. There were previous reports suggesting Ethereum might be classified as a security; if this is announced at tonight's hearing, the price could collapse dramatically. However, there is good news as the SEC chairman mentioned the possibility of approving an Ethereum ETF this summer, and if positive news suddenly breaks, it could trigger a short squeeze, forcing the bears down.

2. CME Futures Expiration: Tomorrow (June 27) is the expiration date for CME Ethereum futures, and large investors might close positions or roll over tonight, leading to significant market volatility. Historically, after CME launched Bitcoin futures, the market entered a bear market; although Ethereum's situation may be different, caution is always wise.

Operation suggestion: Short at 2450-2460, target 2400-2380

• Both major events tonight could trigger sell-offs, especially the SEC

• Stop-loss: Set at $2480; if it breaks, it indicates the short logic is wrong, and it's time to run

Risk warning: Policy benefits could overturn the bears

Finally, just a couple of reminders

Ethereum is highly volatile; tonight is bound to be unstable. When trading, don’t be greedy, stick to the plan. If you don’t understand or can’t keep an eye on the market, it’s best to wait and observe.