November 4 $ETH Market Update
Yesterday, I advised watching support around 2220. This morning, the price fell to a low of 2225, nearing that support level, then rebounded to around 2266. However, the market has yet to stabilize.
On the 1-hour chart, clear resistance formed around 2318. A second rebound to around 2310 failed to break through, with considerable selling pressure overhead. Although the price has rebounded, the highs continue to move lower, so the short-term trend has not strengthened.
Preliminary results from the U.S. midterm elections have also put some pressure on the market. Democrats made gains in several key districts, but control of both chambers still needs to be confirmed. BTC also fell to around 75700, and overall market sentiment is cautious.
In addition, liquidation data shows that if ETH breaks above $2359, the cumulative short liquidation intensity across major CEXs would be approximately $776 million;
If it falls below $2136, the long liquidation intensity would be approximately $381 million. These are estimates only and do not mean that the price will necessarily reach those levels.
Trading advice: The key short-term support zone is 2220–2230. If it holds, the rebound outlook remains intact. If it breaks, the price may retest around 2170 before recovering, or continue to fall.
The short-term upside target is 2280, with strong resistance in the 2300–2318 zone. Stay cautious and avoid chasing longs until resistance is decisively broken.
Those holding longs opened at lower levels can continue to hold and monitor the market, reducing positions as appropriate if the price rebounds into the resistance zone;
Those not yet in the market should patiently wait for a stable retest or a breakout above resistance before looking for an opportunity to trade.
#美国10月非农出炉：降息还有戏吗？
Yesterday, I advised watching support around 2220. This morning, the price fell to a low of 2225, nearing that support level, then rebounded to around 2266. However, the market has yet to stabilize.
On the 1-hour chart, clear resistance formed around 2318. A second rebound to around 2310 failed to break through, with considerable selling pressure overhead. Although the price has rebounded, the highs continue to move lower, so the short-term trend has not strengthened.
Preliminary results from the U.S. midterm elections have also put some pressure on the market. Democrats made gains in several key districts, but control of both chambers still needs to be confirmed. BTC also fell to around 75700, and overall market sentiment is cautious.
In addition, liquidation data shows that if ETH breaks above $2359, the cumulative short liquidation intensity across major CEXs would be approximately $776 million;
If it falls below $2136, the long liquidation intensity would be approximately $381 million. These are estimates only and do not mean that the price will necessarily reach those levels.
Trading advice: The key short-term support zone is 2220–2230. If it holds, the rebound outlook remains intact. If it breaks, the price may retest around 2170 before recovering, or continue to fall.
The short-term upside target is 2280, with strong resistance in the 2300–2318 zone. Stay cautious and avoid chasing longs until resistance is decisively broken.
Those holding longs opened at lower levels can continue to hold and monitor the market, reducing positions as appropriate if the price rebounds into the resistance zone;
Those not yet in the market should patiently wait for a stable retest or a breakout above resistance before looking for an opportunity to trade.
#美国10月非农出炉：降息还有戏吗？
