April 9 Market Analysis



Geopolitical tensions have eased slightly, causing ETH to surge by 200 points in a flash. Just like the previous script, last night the US stock Nasdaq opened 800 points higher, closing nearly 600 points up. However, ETH failed to break through the high during its rebound last night, and the market started to decline. The price dropped below 2200, testing a key support level for the bulls...

On-chain data shows that yesterday, BlackRock transferred a large amount of Bitcoin and ETH to Coinbase, creating selling pressure. The ETH Foundation also made a small ETH move last night and hinted at possibly selling larger amounts... which added resistance to the rally...

Currently, the news environment may turn again. After a dip this morning, the market showed signs of a rebound during the daytime. Watch whether ETH can break above 2200 again and establish support for a new high... When analyzing the market at any time, objectivity and caution are essential...

Today’s trading suggestion: primarily buy on dips
ETH first support at 2176, second support at 2142
First resistance at 2230, second resistance at 2273

Note: Personal suggestions are for reference only and do not constitute trading advice. Trading involves risks; set stop-loss orders when opening positions.
ETH-2,86%
BTC-0,9%
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