Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
$ETH What is the outlook for the subsequent trend after the high-level fluctuation?
What impact does Chairman Powell's speech tonight have on the market?
First, the reason for ETH's significant rally last night was that an institution under BlackRock built a position in Ethereum spot, plus several whales staked, so after the US stock market opened last night, it stabilized and then surged overnight, reaching the strongest resistance zone of 2350-2380 on the daily chart before starting to decline with decreasing volume.
So, Brother Sanjin's view on Ethereum's trend tonight is definitely: bearish! bearish! absolutely bearish!
I have always been a steadfast long-term holder, but that doesn't prevent me from short-term shorting, for the reasons:
①: Recently, Ethereum spot ETF funds have been continuously flowing out, totaling $70 million (outflow of $21.8 million yesterday), indicating that institutional sentiment remains cautious.
②: The Federal Reserve's interest rate decision and Powell's speech overnight are unlikely to be positive for the crypto market in the short term (negative).
③: On the daily chart, there is a large number of sell orders at the strongest resistance zone of 2350-2400, plus nearly $170 million worth of long positions near 2280 waiting to be liquidated.
Based on the above personal views, the US stock market opening and data releases tonight are likely to be negative, so it’s possible to find a good entry point.
These are just personal opinions!