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Ethereum's recent performance has indeed been strong, but from the 4-hour chart, the situation has become a bit complicated. A downtrend is forming, and selling pressure above is also increasing — indicating that institutions and large investors are quietly withdrawing.
From a technical perspective, it's unlikely that the market will have a major move in the near future, more likely a pattern of oscillating downward. Coupled with the fact that the US stock market has not fully stabilized, the probability of continued selling is quite high. In this environment, a bearish approach is more reasonable.
The first target for Ethereum in the near term is around 2890; if this level is broken, it could head straight to 2850. The probability of short-term oscillating downward movement is high, so close attention should be paid to changes in trading volume and institutional holdings. The subsequent policy directions from the Federal Reserve FOMC meeting will also have a significant impact on overall market sentiment.
This period is more suitable for observation than blind trading, waiting for clearer signals before making decisions.
It's time to be patient again, wait for the signal
Once 2890 breaks, it's game over. There's nothing wrong with being bearish this wave
As soon as the Federal Reserve speaks, the market trembles. It's really outrageous
Observe carefully, don't make reckless moves. Lessons learned the hard way, everyone
Waiting for 2850, anyway right now it's all just a fake-out.
The Federal Reserve just coughs once and everyone starts to tremble. It's really annoying.
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Breaking 2890 and heading straight to 2850. Easy to say, but by then I’ll already be a leek.
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Instead of staring at the chart, it’s better to wait for the Federal Reserve to give us a clear signal. Right now, it’s indeed an observation period.
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The bearish idea sounds good, but who can guarantee it’s not a reverse operation? The market loves to do the opposite.
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The probability of this wave of decline is high, right? Then I’d better hold on first and see clearly before making a move.
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The US stock market isn’t stable yet, and Ethereum is starting to fluctuate. Nobody wants to be passively hit.
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Institutional position changes are something we small retail investors simply can’t see through; we can only follow the rhythm.
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Breaking 2890 means we have to watch 2850, feels like we're about to start the back-and-forth again
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Waiting for signals is a good point, don't rush to go all in, the Federal Reserve hasn't fully committed yet
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The bearish idea isn't wrong, but it feels like the bottom isn't far off, it all depends on who can hold on
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The US stock market isn't stable yet, ETH will definitely suffer along with it, this wave needs careful observation
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Big players are all withdrawing, and we're still hesitating whether to buy or not, hilarious
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Technical analysis shows oscillation and downward movement... just the usual cycle of chopping the leeks
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It's the Federal Reserve again and dumping the market; when will this mess ever end?
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Breaking 2890 and heading straight to 2850? Sounds like a roller coaster.
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I'll just watch quietly; anyway, whatever operation now is all risky.
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The 4-hour chart indicates that we should wait for clearer signals before speaking.
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Major players have already withdrawn, and we're still here buying in? Forget it.
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A downward oscillation is a test of who can hold on.
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If the US stock market isn't stable, don't expect any trends; this logic isn't wrong.