ETH quickly dips after hours—how should we view the next move under data-driven disruption?

Tonight, the market saw a fairly clear pullback.

Around 8:00 pm, ETH was still consolidating near 1,925, then—driven by U.S. economic data and changes in market sentiment—the price quickly dropped, with the low now touching around 1,897.

This drop is mainly due to two factors.

First, the U.S. initial jobless claims data came in below market expectations, suggesting the U.S. job market still remains resilient, cooling down expectations for the Fed to cut rates rapidly.

Second, as oil prices rose and U.S. Treasury yields moved higher, short-term risk appetite also declined, putting some pressure on risk assets—including the crypto market.

However, looking at today’s overall trend, ETH’s strong performance during the daytime was actually quite evident.

In my morning outlook, I focused on the support area around 1,910–1,920. After the daytime pullback to about 1,912, a rebound followed, indicating that this level truly has some demand/backup.

As for tonight’s drop, it’s more of a rapid release triggered by news, rather than purely a technical deterioration.

My current personal take on ETH in the short term:

No rush to chase shorts from here.

Although the price broke below short-term support tonight, if there’s limited room for further downside release, then it’s actually more important to wait for a market rebound and watch the overhead resistance zones.

If later the price returns to the 1,920–1,930 area and shows signs of being capped/under pressure, then I’d be more inclined to look for short opportunities at higher levels.

In trading, direction is one thing—the position/price level matters even more.

Many people chase shorts right after a selloff, but that often leads to getting caught in a rebound.

The truly good trading opportunities usually come from waiting for the market to open up space, and then making decisions at key levels.

From ETH’s overall structure right now, the earlier uptrend hasn’t been fully broken yet. We’re entering a short-term adjustment phase. Focus on whether there’s support around 1,890–1,900 and 1,870–1,880.

Next, keep an eye on how the market reacts after the U.S. stock market opens, and how capital attitudes toward risk assets change.$ETH ‌#GOOGL财报亮眼但盘后跌超3%