Today’s morning thoughts on ETH

Operation:
Go long around 1730-1720
First target 1780-1800
Second target 1830-1850
Set a stop loss

ETH is currently in a deeply oversold state; the price has pierced below the lower Bollinger Band. The short-term RSI has already fallen into an extreme oversold range, and the magnitude of the oversold move is clearly greater than that of BTC. As a high-volatility asset, after an oversold condition, ETH’s recovery slope is usually steeper. Once a rebound starts, the strength often runs ahead of the broader market. From a macro perspective, the market has largely priced in the hawkish expectations from the Fed minutes. After the event is concluded and uncertainty is removed, it may trigger a sentiment repair. The key support area below is clear, leaving limited room for further downside. In terms of risk, if the minutes include extremely hawkish wording, ETH’s downside elasticity will also be larger, and being oversold does not mean an immediate reversal. Overall, the bias is bullish; but in terms of timing, it’s advisable to wait for a stabilization and bottoming confirmation signal before entering, rather than rushing to catch the bottom. $ETH #GUSD年化升至3.8%