April 17 Intraday Market Analysis


Li Yi initiated a 10-day ceasefire today, but the other side has refused to withdraw troops, and Hezbollah maintains a hardline stance, making the ceasefire’s foundation fragile; the US-Iran temporary ceasefire will expire on April 22, negotiations are deadlocked, the US has increased sanctions and military deployments, and Iran has mounted a firm counter to drive shipping risks in the Strait of Hormuz higher. On a macro level, expectations for the Federal Reserve to cut rates have been pushed back, the US dollar and US Treasury yields are staying at elevated levels, and layered on top is the repeated rebound of geopolitical risk-averse sentiment, amplifying volatility in risk assets. In addition, the “two bing” is linked with the broader market; amid the tug-of-war between bulls and bears, it seeks direction—next, by combining news and structure, we break down today’s market opportunity.
Support: 2310, 2280, 2255
Resistance: 2368, 2395, 2415$ETH
ETH0.48%
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