$ETH market analysis. (All practical tips)
8.28 evening analysis: The overall market sees SOL leading the way. ETH follows and keeps in sync, but there isn’t much to look forward to yet. Both long and short sides are currently watching and waiting, and this choice is correct. However, the time to act is tonight—if you’re holding short positions, turning around is still not too late.
Tonight there’s a major event: at 22:00 Beijing time, Fed Chair Waller’s public speech will directly determine the market direction. There are three possible outcomes:
1) If Waller releases a hawkish signal implying rate hikes or maintenance of high interest rates, the market will likely slide.
2) If Waller releases signals that suggest rate cuts or a path toward easing, then $ETH will take off in a synchronized move.
3) If Waller stays vague with no clear direction, the market will likely continue to chop and “shake out” positions.
Now let’s look at on-chain capital flows: net inflows are up to 226 million USD, with 9 consecutive days of net inflows. Institutions and big players are still going crazy buying.
Right now, support is around 2480. You can go long directly at 2500 tonight—this is likely to be a positive news catalyst. The first target is 2580. The “announcement” on the plaza often has a high delay. Prioritize knowing the news first—lock onto Iron Fortress and achieve a turnaround of your account. Update your exact operations and entry levels every day!