$ETH High-level consolidation—will it hit 2500 tonight?
Last night, two major bearish news items failed to push Ethereum lower, which suggests that the 25-basis-point rate hike news had already been priced in. However, the Fed’s dot plot last night showed some officials believed the cumulative rate hikes could reach 75 basis points, and that’s what caused the candles to keep “dancing” all night. Many retail traders who couldn’t hold a clear direction were shaken out and dumped.
At this point, most of the bad news has already been digested. In the short term, 2400 has stabilized, and the market is starting to slow its downward momentum—so tonight, after the U.S. stock market opens, it will most likely rally above 2500 and then pull back. So for those holding long positions, you can stay confident and hold firmly.
Last night, two major bearish news items failed to push Ethereum lower, which suggests that the 25-basis-point rate hike news had already been priced in. However, the Fed’s dot plot last night showed some officials believed the cumulative rate hikes could reach 75 basis points, and that’s what caused the candles to keep “dancing” all night. Many retail traders who couldn’t hold a clear direction were shaken out and dumped.
At this point, most of the bad news has already been digested. In the short term, 2400 has stabilized, and the market is starting to slow its downward momentum—so tonight, after the U.S. stock market opens, it will most likely rally above 2500 and then pull back. So for those holding long positions, you can stay confident and hold firmly.
