#ETH巨鲸增持 ETH this plummet is quite fierce!

First, looking at the technical aspects, the trend has completely turned bearish. All indicators are flashing red. Key support levels are currently being tested. Until a clear signal of a stop in the decline is seen? The downside potential is obviously greater than the possibility of a rebound.

How to play short-term? If it rebounds to the resistance range of 3000-3020 and doesn't go up, you can consider shorting, with a stop-loss set above 3050 for protection. If it directly breaks down 2960 with volume, you can also short with a light position, but don't chase with a heavy position.

Let's talk about the fundamentals. In the long run, the deflationary expectations brought about by Ethereum's transition to PoS are still present, and the ecological advantages are evident. However, we are currently in a bear market, and on-chain activity has decreased, leading to a decline in revenue. Moreover, other public chains are eyeing the situation, and regulatory policies are unclear, resulting in significant short-term pressure. These long-term benefits cannot currently suppress the panic sentiment in the market.

The macro environment is also not friendly. Major global central banks are still aggressively raising interest rates and reducing their balance sheets, leading to a continuous tightening of market liquidity, with growing concerns about economic recession. Funds are flocking to safe-haven assets, and high-risk assets like cryptocurrencies are naturally the first to be impacted. Can ETH stand alone? Difficult.

Long-term investors should not rush to catch the bottom. Be patient and wait for the market sentiment to stabilize, focusing on the key support at 2850. If a strong reversal signal appears on the daily chart, combined with a MACD hidden divergence, it won't be too late to enter the market in small batches at that time. Additionally, closely monitor U.S. inflation data and the Federal Reserve's statements, as these macro events could trigger a turning point in the market at any moment.

The market is a bit dull right now, but opportunities will always come. Be patient and wait for the right entry point.