November 5 $ETH Market Update
ETH’s rebound has been somewhat stronger than expected.
On the 4-hour chart, ETH has rebounded steadily from around 2172. It was capped near 2300 several times before, but this time it surged on heavy volume, reaching a high of 2449.
It is now consolidating around 2420, and I think the short-term structure has improved significantly. The most important thing next is whether it can break through 2450.
If it holds above that level, the next targets could be 2500–2525; for now, watch whether 2400 holds.
Democrats won both chambers of Congress, and the market had initially worried about tighter crypto policies. But once the news was confirmed, it instead helped drive prices higher, with BTC back above $80k and ETH showing greater upside.
However, this rally was not driven solely by election news. After the deep declines earlier, the market was already due for an oversold rebound.
That does not mean funding issues in the crypto market have been resolved. The contraction in stablecoin supply and the pressure from ETF outflows remain worth watching.
Next, focus on Friday’s nonfarm payrolls report and next week’s CPI. These two data releases could once again affect market expectations for Federal Reserve interest rates.
#BTC重返8万
ETH’s rebound has been somewhat stronger than expected.
On the 4-hour chart, ETH has rebounded steadily from around 2172. It was capped near 2300 several times before, but this time it surged on heavy volume, reaching a high of 2449.
It is now consolidating around 2420, and I think the short-term structure has improved significantly. The most important thing next is whether it can break through 2450.
If it holds above that level, the next targets could be 2500–2525; for now, watch whether 2400 holds.
Democrats won both chambers of Congress, and the market had initially worried about tighter crypto policies. But once the news was confirmed, it instead helped drive prices higher, with BTC back above $80k and ETH showing greater upside.
However, this rally was not driven solely by election news. After the deep declines earlier, the market was already due for an oversold rebound.
That does not mean funding issues in the crypto market have been resolved. The contraction in stablecoin supply and the pressure from ETF outflows remain worth watching.
Next, focus on Friday’s nonfarm payrolls report and next week’s CPI. These two data releases could once again affect market expectations for Federal Reserve interest rates.
#BTC重返8万
