ETH Evening Analysis

The interest rate hike by the central bank and the personnel changes in the Federal Reserve (the probability of Powell leaving is very low, and Trump may push for a "dovish" candidate) combined with a significant statement at 3 AM tomorrow continue to disturb the sentiment in the cryptocurrency circle. Although Big Brother Ma previously leveraged heavily to increase ETH longs, he has already faced two rounds of liquidation, resulting in asset depletion, and his actions are unlikely to change the market's downward trend.
The daily downtrend of ETH has not stopped, with the 50/100/200-day moving averages in a bearish arrangement. The resistance in the 2850-2900 range is significant, and if the rebound does not break through, short positions can be established accordingly. One must be cautious of the risk of dropping below the 2850 support and probing down to 2300.