The silence before the storm can feel almost uncomfortable.
Everyone waits for confirmation, traders become cautious, and the market appears calm. Then suddenly momentum returns and the coins that were being ignored begin moving again.
ETH is currently around 2,456 with a positive 24 hour move of 0.74 percent. That may not look explosive yet, but this is exactly the kind of early strength I want to monitor before momentum potentially expands.
ETH is one of the most important coins to watch if the broader market begins rotating into higher beta assets. The question now is whether ETH can maintain the current recovery and build support instead of giving the move back.
The first area I am watching is 2,400 to 2,450. Holding above this region would keep the short term structure constructive.
Above that, 2,500 becomes an important psychological level. A clean break with increasing volume could open the door toward 2,650 and 2,800.
I would also watch ETH relative strength against BTC. If ETH begins outperforming BTC while overall market liquidity increases, that could be an important signal that market rotation is getting stronger.
EP: 2,440 to 2,480
TP: 2,550, 2,650, 2,800
SL: 2,350
The market does not need to explode immediately. Sometimes the strongest moves begin quietly.
I am watching the support, the volume and the rotation.
I am ready for the move.
#Fed Chair Warsh signals rate hike
#Fed reaffirms inflation target
