January 31 ETH Market Analysis (As of 22:30, current price $2533)

24h drop of approximately 8.2%, intraday high of $2765, low of $2505, breaking downwards, panic intensifies, linked with BTC's sharp decline, macro and liquidity factors exerting pressure.

I. Key Levels (USD)

• Resistance: 2580 (small rebound threshold) → 2635 → 2715

• Support: 2500 (intraday critical line) → 2437 → 2380

II. Technical Analysis (1-2h timeframe)

• Price breaks downward, moving averages show a bearish alignment, MACD indicates deep bearish momentum, volume expands, selling pressure is strong.

• Stabilizing above 2580 suggests a correction towards 2635-2715; losing 2500 likely accelerates decline towards 2437-2380.

III. Market and News Sentiment

• Macro: The Federal Reserve's hawkish expectations intensify, liquidity tightens, capital panic exits, mainstream coins collectively plunge.

• Capital: ETH ETF continues to outflow, leveraged longs are being liquidated, network-wide liquidations are severe, speculative sentiment hits a low.

• Long-term: Pectra upgrade expectations cannot offset short-term selling pressure, institutions are cautious, short-term weakness persists.

IV. Trading Recommendations (Short-term)

1. Keep positions strictly below 20%, mainly observe; lightly position in the 2500-2437 range for small longs, with stop-loss below 2437.

2. Gradually reduce positions on rebounds to 2580-2635, avoid chasing highs, exit promptly when rebound momentum weakens.

3. Implement strict risk control, set tight stop-losses, beware of liquidity risks and extreme volatility.
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