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牛市做空！越挫越勇！跟单必死！
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ETH has had no independent movement these past two days, just standing by following BTC, all waiting for tonight's CPI release!
The price is now hovering between 2440 and 2450, barely moving. Yesterday, the PPI annual rate hit 5.4%, hotter than expected, instantly pushing the Fed's rate hike probability close to 70%. Once the data came out, ETH dropped directly from around 2500 down to a low of 2410.
Don't be fooled by the 2400 support line holding for now; it's clearly weakening and could easily break with any slight disturbance.
At this stage, Ethereum is just Bitcoin's follower; if BTC doesn't move, ETH grinds; if BTC dives, ETH falls along. There's basically no chance for ETH to make an independent move. Tonight's CPI is the watershed moment: if the data remains hot, rate hike expectations will rise further, and 2400 likely won't hold; only if inflation eases will there be a chance to rebound and challenge upper resistance.
This kind of pre-data volatile trading with spikes is common, so don't heavily bet on a direction in advance. Be patient and wait for the data to come out before deciding! #财报观察员：甲骨文与Adobe今晚交卷 #PPI、CPI接连公布，美联储迎关键两日 #OKX预言家：来星球玩预测 $BTC $ZEC
$ETH What does it mean for Ethereum to be in a sideways market for so long?
Currently, Ethereum is basically a follower of Da Bing, unable to break out of its own independent market.
They can't keep up when prices rise, but run faster than anyone when they fall, stuck in ranges for long periods, with volatility suppressed tightly.
There are only two possibilities for this sideways movement: either gather momentum for a breakout, or remain calm before the storm.
First, bulls and bears are temporarily even. There is heavy selling pressure above, and once pushed down, it gets knocked down; Below, there are buyers supporting the bottom, so the drop is not deep. Short-term funds are all on the sidelines; no one is willing to actively sell off the market or dare to make large rallies — everyone is waiting for this week's CPI and PPI inflation data to be the trigger.
#9月加息概率升至约60%, the Fed faces a dilemma
Second, clearing out the chips. Inserting needles up and down back and forth, with stop-loss sweeps on both sides of the market. Those holding long positions fear a plunge; short sellers fear a direct rally. Those opening positions back and forth get hit repeatedly in the oscillation.
Third, it relies on even more leverage than Bitcoin. During the sideways market, a large amount of high-leverage positions are still being consumed in the market, and funding costs keep draining the market. Once the data is released and the direction is chosen, Ethereum's volatility will directly amplify, rising faster than BTC and falling even harder.
Focus on two key positions:
Resistance is between 2510 and 2530 above; only with increased volume and a solid stand can there be a chance to open up rebound space;
Support below 2430-2440; once it is effectively broken, a new round of correction will begin.
Remember this saying: the longer you keep horizontal strokes, the stronger the later burst will be. Don't get hit from both sides while waiting for direction
Bulls and bears slapping each other! BTC is stuck in a stalemate, don't bet on a one-sided move
$BTC Bitcoin today is a typical range-bound grinding market, with the current price hovering around 78300. Late last night, there was a sharp drop down to 77500, and many thought it would break down further, but buying pressure stepped in below to catch the dip, pulling it back up, playing out a scenario where bears dumped and bulls picked up the pieces. Today's 24-hour range is fluctuating between 77900 and 79700, unable to break above the 80,000 mark, nor drop deeply below; neither bulls nor bears have taken control. The first resistance above is at the 79500-80000 level; to reverse the weakness, volume must increase and hold firmly above 80,000. The key support below is at 77500, which has held during recent pullbacks; if it breaks effectively, the price will likely test around 76000. The entire market is now holding its breath waiting for this week's inflation CPI and PPI data. If the data is hot, rate hike expectations will rise, putting pressure on Bitcoin to move down; if the data cools, there will be a chance to retest above 80,000. #CLARITY法案9月15日闯关，60票成关键 The overall trend hasn't completely turned bad; mid- to long-term moving averages are still supporting the price, but short-term upward momentum is clearly weakening, and the daily death cross has led to weak rebounds. Now, don't rush to bet on a one-sided move; this kind of choppy market loves to whip back and forth to trigger stop losses, and heavy positions can easily get hit from both sides. Watch more, trade less, and wait for the data to provide direction before making moves. #9月加息概率升至约60%，美联储面临两难选择 #Liquid获返3400枚B