Current situation
The price is stuck around 3689, like being pinched between two biscuits - above 3750 is a resistance level, and below 3589 is a support level. The price is currently swaying near the middle yellow line, indicating a tug-of-war between bulls and bears.
Two major explosive events
Tonight at 8:30 PM: US unemployment data will be released (the state of the economy directly affects market sentiment)
Midnight: New tariff policy implementation
These two events are like time bombs; any unexpected outcome could blast ETH out of the consolidation range.
Key points to watch
Upward breakout: If it surges past the 3750 resistance level with increased volume, it may test 3800
Downward break: If it falls below 3650 with increased volume, be cautious of hitting the 3589 support level
Soggy consolidation: If it lingers between 3680-3730 after the data is released, it indicates the market is waiting for new directional signals
Operational Suggestions
Short-term players: Reduce positions before the data release to avoid the turbulence of 'instant news explosions'
Spot traders: If it drops below 3650, consider buying in batches, and pursue further if it breaks through 3750
Contract players: Current volatility is low, wait for a breakout to trade more safely
(The impact of the US stock market decline is still ongoing. If the US stock market continues to fall tonight, ETH may be dragged down as well)
Summary: It feels like the calm before the storm right now. It's suggested to set up a small stool and keep a close eye on volume changes after 8:30 PM. If you're eager, wait until the direction is clear before taking action!
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