October 21 | Morning
ETF inflows of large amounts of capital fueled a broad rebound. Short-term momentum has turned bullish; prioritize buying on pullbacks.
【Today's Strategy】
Entry: Buy on dips in the 2430–2440 range
Stop-loss: Below 2415; if this level breaks, suspend the bullish outlook
Take profit in stages:
① 2470–2480
② 2500–2520
【Market Analysis】
Last night, ETH rallied in tandem with Bitcoin, forming a strong bullish candle. It climbed from around 2380 to a high of 2477.70, and is now trading near 2455. The price is holding firmly above all moving averages on both the 1-hour and 4-hour charts, with the short-term outlook shifting from weak to strong.
The key driver of this move was a single-day inflow into ETFs that reached a one-month high. This was accompanied by an 1.8% drop in oil prices and a 1.02% gain in the Dow Jones Industrial Average. The market puts the odds of the Fed keeping rates unchanged at the October FOMC meeting at 82.3%. Rate-hike concerns have eased, and risk appetite has recovered.
The main strategy today is to buy on pullbacks. Near the previous high, where resistance may emerge, a small short position can be considered. Bulls have the short-term advantage, and there is no reason for now to predict a trend-driven sharp selloff. #ETH
ETF inflows of large amounts of capital fueled a broad rebound. Short-term momentum has turned bullish; prioritize buying on pullbacks.
【Today's Strategy】
Entry: Buy on dips in the 2430–2440 range
Stop-loss: Below 2415; if this level breaks, suspend the bullish outlook
Take profit in stages:
① 2470–2480
② 2500–2520
【Market Analysis】
Last night, ETH rallied in tandem with Bitcoin, forming a strong bullish candle. It climbed from around 2380 to a high of 2477.70, and is now trading near 2455. The price is holding firmly above all moving averages on both the 1-hour and 4-hour charts, with the short-term outlook shifting from weak to strong.
The key driver of this move was a single-day inflow into ETFs that reached a one-month high. This was accompanied by an 1.8% drop in oil prices and a 1.02% gain in the Dow Jones Industrial Average. The market puts the odds of the Fed keeping rates unchanged at the October FOMC meeting at 82.3%. Rate-hike concerns have eased, and risk appetite has recovered.
The main strategy today is to buy on pullbacks. Near the previous high, where resistance may emerge, a small short position can be considered. Bulls have the short-term advantage, and there is no reason for now to predict a trend-driven sharp selloff. #ETH