The Federal Reserve's hawkish claws have ripped apart the crypto cover, ETH is dancing on the edge of the $2400 cliff—whether the next step falls or steps on clouds depends on whether the main force performs tonight!

On-site bloodbath.

Last night ETH took three heavy hits in the $2420-$2440 resistance zone, and this morning it directly slipped to the $2409 death line. The on-chain data is even more chilling:

A giant whale is secretly maneuvering: Vitalik's associated wallet recharged 42,000 ETH to Kraken at dawn, coinciding with the Federal Reserve's hawkish statement 'only one rate cut this year', with clear traces of market maker dumping.

The grass on the grave of the many armies is green: The open interest for $2400 call options on Deribit has surged by 200%, but the spot buy orders are as thin as toilet paper—buy depth is 37% shallower than sell depth.

Technical death three-piece set:

MACD underwater death cross: A golden cross below the zero line = a rebound to induce longs. Refer to the 20% plunge on May 23.

Volume betrayal: During the early morning rebound, the trading volume dropped by 30% compared to the previous day, a typical 'impotent rise'.

Hourly M-head top: left shoulder at $2440 → head at $2460 → right shoulder at $2430, breaking the neck line at $2400 directly opens free fall.

Case Review: Do you remember June 15? It was the same 'negative golden cross + Federal Reserve hawkishness', ETH plummeted from $2540 to $2280 in two days, crushing $870 million in long positions! History doesn't repeat itself but it will rhyme.

Survival Guide for Old Investors

$2400 is not the bottom, it's a baiting platform for the main force.

On-chain data shows: There are $140 million in short positions lurking in the $2370-$2390 range, but suddenly there are huge support orders below $2350; a market maker placed a buy order for 6000 ETH at $2300, clearly playing a 'false break and true pullback' trick.
The news is all thunder.

Positive news dulling: Even with BlackRock's ETH ETF approval probability rising to 75%, it is useless; the SEC delayed the decision until July.

Negative news brewing: The U.S. SEC's lawsuit to redefine Ethereum as a security will go to court this week, and miners have already moved 120,000 ETH to exchanges.

Tonight's script rehearsal

Key signal in the scene: aggressive operations induce longs, a quick surge breaks $2420 but the volume is insufficient; opening a short at $2425 with 10x leverage truly falls below the line. In 15 minutes, the entity breaks below $2390, all spot positions are sold, and the market maker quickly pulls back to $2400 + places a buy order at $2380 to catch the rebound.

Thinking of bottom fishing now? Be careful of being nailed to the $2300 shame pillar! Keep a close eye on large orders flowing into Coinbase this afternoon—if there are continuous sell orders of 500+ ETH, immediately comment '1' in the comments section, and I'll help you see through the market maker's bottom line! $ETH #美股代币化

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