Objective market analysis of $ETH shows that since the last drop from a high of 3550 to 2150, a drop of nearly 1400 points, the rebound of $ETH in the past few months has not reached the Fibonacci 0.5 2820 horizontal pressure level, but just barely touched it. In addition, despite the recent unexpected 50 basis point rate cut, the price of ETH has not broken through the previous round of highs. Therefore, to break through the key resistance level of 2820, I think it may be necessary to rely on major events such as the election, and the recent non-agricultural CPI data has been released, and there is no more good news to drive the market.

In short, if $ETH cannot be broken when the buying sentiment is the highest, then the possibility of a breakthrough in the next news window period is even smaller. It is very likely that in this wave of decline, the price of ETH will at least return to 2150 points again, and there is a 65% probability that it will fall below 2150 points and drop to 1880-2080 points, which will be a good time to arrange long orders. At present, you can short below 2520 points, set the stop loss above 2550 points, and the take profit target is the positions I mentioned before.