November 5 $ETH Market Update
ETH’s rebound has been a bit stronger than expected.
Looking at the 4-hour chart, ETH has rebounded steadily from around 2,172. Previous attempts were capped near 2,300, but this time it surged on strong volume, reaching a high of 2,449.
It’s now consolidating around 2,420, and I think the short-term structure has improved significantly. The key question now is whether it can break through 2,450.
If it holds above that level, the next targets could be 2,500–2,525. For now, watch whether it can hold 2,400.
With the Democrats winning both chambers of Congress, the market had initially worried about tighter crypto policies. But once the news was confirmed, it instead helped drive prices higher. BTC climbed back above $80,000, while ETH showed even greater upside momentum.
However, this rally wasn’t driven solely by election news. After the steep decline earlier, the market was already due for an oversold bounce.
That doesn’t mean the crypto market’s funding issues have been resolved. The contraction in stablecoin supply and the pressure from ETF outflows remain worth watching.
Next, keep an eye on Friday’s nonfarm payrolls report and next week’s CPI. These two releases could again affect market expectations for Fed interest rates.
#美国中期选举：市场有哪些期待？
ETH’s rebound has been a bit stronger than expected.
Looking at the 4-hour chart, ETH has rebounded steadily from around 2,172. Previous attempts were capped near 2,300, but this time it surged on strong volume, reaching a high of 2,449.
It’s now consolidating around 2,420, and I think the short-term structure has improved significantly. The key question now is whether it can break through 2,450.
If it holds above that level, the next targets could be 2,500–2,525. For now, watch whether it can hold 2,400.
With the Democrats winning both chambers of Congress, the market had initially worried about tighter crypto policies. But once the news was confirmed, it instead helped drive prices higher. BTC climbed back above $80,000, while ETH showed even greater upside momentum.
However, this rally wasn’t driven solely by election news. After the steep decline earlier, the market was already due for an oversold bounce.
That doesn’t mean the crypto market’s funding issues have been resolved. The contraction in stablecoin supply and the pressure from ETF outflows remain worth watching.
Next, keep an eye on Friday’s nonfarm payrolls report and next week’s CPI. These two releases could again affect market expectations for Fed interest rates.
#美国中期选举：市场有哪些期待？
