Dovish Readings, Markets Rush Higher

Summary:

Strong employment may continue to support a soft landing of the economy, and the Ether market may be more ups and downs.

SELL ETH-USDT

Close Time

CLOSED

1678.00

Entry Price

1630.00

1708.00

2656.72 -97.10 -3.53%

267.2

Pips

Profit

1630.00

1651.28

Exit Price

1678.00

Entry Price

1708.00

Fundamental Analysis

Federal Reserve Chairman Jerome Powell said Tuesday that the very strong employment data released last week confirmed that the Fed has some way to go in terms of raising interest rates. While declining to comment on whether knowing the data was so strong would have influenced the decision to raise rates by 25 basis points last week, Powell told the Economic Club of Washington that when it comes to tightening monetary policy, the data "shows why this is going to be a process that takes quite a while.

The plate movement is the market interpretation. Last year's back-to-back rate hikes, which essentially opened a new wave of declines each time Powell spoke, were up for the first time this year. Now with U.S. disinflation on, it gives the economy more room to imagine. But strong employment data in January suggests the Fed has more work to do in controlling inflation.

Technical Analysis

At the daily level, the current round of Ether's rise can be divided into two stages. The first is the round of unilateral rise from 1200 as the starting point to the first impact of 1640, and the second is the high oscillatory rise that is currently underway. The current market is in the process of high adjustment, still in the box oscillation, in the box pivot position. The MACD indicator is still a death cross and the disk technical lack upside support. ETH-USDT：Dovish Readings, Markets Rush Higher_1

ETH-USDT：Dovish Readings, Markets Rush Higher_1

From the 1-hour timeframe, the former candlestick pattern even negative down, as the indicator MACD signs of the death cross. The intra-day retracement correction is probably, the strength of the need to pay attention. But according to the recent market trends, the market is still doing high throwing and bargain hunting. You can go for range trading. Recommended going short near 1680, with the stop loss set above 1700, taking the profit near 1630. You can go long near 1630, as the stop loss is placed near 1600, taking the profit near 1680-1700.

ETH-USDT：Dovish Readings, Markets Rush Higher_2

Trading Recommendations

Trading direction: Short

Entry price: 1678

Target price: 1630

Stop loss: 1708

Support: 1630, 1600

Resistance: 1700, 1720

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