Current ETH position and market highlights;
Recent pressure above: Approximately around $4350. If it can effectively break through, it may test the 4420-4430 area upwards.
Recent support below: Pay attention to the $4270-4280 area. If it can hold, the short-term structure will remain relatively stable.
If it falls below the recent support, stronger support is around $4220, as well as the psychological level of $4200.
The current RSI indicator (a measure of market momentum) is in the 40-50 range, which is neither overbought nor oversold, allowing space for price fluctuations in either direction.
Interest rate cut expectations may have been partially reflected in the current price: the market often "buys the expectation and sells the fact," meaning it rises before the news is fulfilled, and may retrace when it actually is.
Focus on the actual rate cut magnitude and subsequent statements: If the rate cut is less than expected, or if the Federal Reserve's statement on future rate cuts leans "hawkish" (not so loose), the market may also be disappointed and trigger volatility.
Economic data remains a variable: For example, if the subsequently released CPI (Consumer Price Index) and other inflation data exceed expectations, it may also change the market's expectations for Federal Reserve policies, bringing short-term volatility.
Short-term directional choice: ETH is currently in a key position that can go up or down. Whether it breaks upwards or retraces downwards in the short term needs close attention to the gains and losses of the key support and resistance levels mentioned above.
Medium to long-term perspective: Apart from short-term fluctuations, from a medium to long-term view, if the Federal Reserve enters a rate cut cycle, a more liquid environment serves as support for the overall cryptocurrency market.
But this also needs to be judged in conjunction with the market sentiment, regulatory policies, and other factors at that time.
Position in advance for potential coins, follow my profile, keep up with my rhythm, and earn a lot in this round of bull market.
