Today the market is fluctuating downward, and caution is needed when buying at the bottom!

Today, the overall market shows a downward trend, and the downtrend remains unchanged; at this moment, do not rashly attempt to buy at the bottom!

Key Price Levels for ETH

First, looking at ETH, the first resistance level is at 3431; if it pushes up, 3540 is its second resistance level;

Conversely, when moving downward, 3205 is the primary support line, and further down, 3105 is the second support level.

Factors of Long and Short Positions

1. Bearish Factors: The unemployment rate data released last night is not optimistic, bringing a significant bearish impact; the relief fund data is at a mid-level, and overall, the data leans towards a bearish sentiment.

Moreover, the market makers are taking advantage of the Democrats' ongoing lawsuits against Trump and calls for his sentencing, amplifying negative news and further dampening market sentiment.

2. Bullish Factors: The market is not entirely gloomy, as there are several potential bullish expectations. Trump's planned visit to Shanghai on January 20 is expected to inject vitality into the cryptocurrency market;

In March next year, the Layer 2 network Prague upgrade is highly anticipated, coupled with signs of an upcoming altcoin season.

Operating Strategy

The best strategy right now is to maintain a wait-and-see approach; do not be anxious to buy at the bottom, as waiting is not just a simple method but a mature investment strategy.

According to my estimation, in this wave of market movement, the lowest price for ETH is likely to drop to around $2980.

If you want to delve deeper into the crypto space but can't find a clue, or want to quickly understand information differences, whether it's contracts or spot trading, you can 👉 learn more in my profile #市场调整策略 #DeFAI热点