$ETH The Federal Reserve’s first rate hike in more than three years takes effect, yet ETH pulls back from 2357 all the way to 2445—strong in a somewhat unusual way
1. Bearish pressure absorbed: On September 16, the Fed unanimously raised rates by 25bp to 3.75%-4.00%. Powell said interest rates would be kept at a high level for longer. Institutions generally view downside risk to risk assets as likely, but ETH only dipped to 2357 before quickly reclaiming it—clear signs that the bad news may have already been priced in;
2. Key levels held: Analysts had previously warned that ETH needed to hold the 2352 area, otherwise it could slide toward 2200. Yesterday it found support precisely at that level and rebounded with increased volume. The MACD formed a bullish cross while below zero, and the RSI rose to 59.77.
ETHUSDT shows a V-shaped rebound after the rate hike. Current price: 2445.80. On the 4-hour timeframe, MACD is in a bullish cross below zero and RSI 59.77 is relatively strong. Price has moved above MA7 and is pressing toward the MA25 resistance zone.
Direction: Go long
Entry: 2410-2435
Take profit: 2453.33 - 2471.01 - 2500
Stop loss: 2350
1. Bearish pressure absorbed: On September 16, the Fed unanimously raised rates by 25bp to 3.75%-4.00%. Powell said interest rates would be kept at a high level for longer. Institutions generally view downside risk to risk assets as likely, but ETH only dipped to 2357 before quickly reclaiming it—clear signs that the bad news may have already been priced in;
2. Key levels held: Analysts had previously warned that ETH needed to hold the 2352 area, otherwise it could slide toward 2200. Yesterday it found support precisely at that level and rebounded with increased volume. The MACD formed a bullish cross while below zero, and the RSI rose to 59.77.
ETHUSDT shows a V-shaped rebound after the rate hike. Current price: 2445.80. On the 4-hour timeframe, MACD is in a bullish cross below zero and RSI 59.77 is relatively strong. Price has moved above MA7 and is pressing toward the MA25 resistance zone.
Direction: Go long
Entry: 2410-2435
Take profit: 2453.33 - 2471.01 - 2500
Stop loss: 2350
