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The Ethereum market is quite interesting this time - the expectation of interest rate cuts in December plummeted from 66% directly down to 44%, and the coin price followed suit.
The current attitude is very clear: firmly bearish on Ether. The only condition that could make me change my stance is if it strongly breaks through the $3600 barrier within 48 hours. Otherwise? It will still have to plummet.
To be honest, this position is quite awkward. 3600 could either be a reversal signal or just a trap to lure in buyers during the downturn. Market sentiment is where it is, and the expectations for interest rate cuts have cooled significantly. The technicals haven't provided decent support either, making it really difficult for the bulls to turn things around.
The next two days are a critical observation period. Whether it can hold the 3600 level will determine if the short-term direction is to continue consolidating or if it has truly bottomed out.