#MSCI未排除数字资产财库企业纳入范围 $ETH Technical charts are speaking, but tonight's non-farm payroll data is the real star!

Consolidation isn't idling; it's a calm before the storm—Ethereum is stuck at a key level on the 30-minute chart, waiting for the heavy data from across the Pacific.

**What do the technicals say now?**

Regarding MACD, the fast and slow lines are still oscillating below the zero line, indicating that the bears are in control. However, the MACD histogram is starting to turn positive and has slightly expanded, with signs of bottom divergence and a potential golden cross gradually emerging.

Looking at volume and moving averages, the current trading volume is 24,970.069, significantly lower than MA5 and MA10, meaning traders are mostly on the sidelines. Ethereum's price is caught between short-term moving averages, a typical consolidation pattern before a breakout.

**What does on-chain data reveal?**

There’s new activity today—whale addresses are continuously accumulating between 3150-3200, clearly indicating large funds are buying the dip. Meanwhile, net inflows to exchanges are slowing down, suggesting selling pressure is easing, which can provide some support for the price.

**But wait, all technicals take a backseat tonight!**

The real focus is on the calendar—at 21:30 tonight, the US December non-farm payrolls will be released. The previous figure was 64,000 jobs, with a market expectation of 60,000; the unemployment rate was 4.60%, expected to be 4.50%. Once this data is out, the market’s understanding of Federal Reserve policy could be rewritten.

If the data exceeds expectations? The rate hike logic will strengthen, the dollar may rally, and Ethereum could be pressured downward. Conversely, if the data falls short, rate hike expectations will ease, and $ETH might have a chance to push higher on this momentum, testing the 3350–3400 resistance zone.

**How do I see tonight’s situation?**

I think before the data is released, the market will continue to oscillate. Once the data hits, a short-term trend could emerge. From the chart, Ethereum is already gathering strength around 3300, with signs of MACD turning bullish, and on-chain funds supporting the move. The downside space is actually quite limited.

But honestly, without macroeconomic momentum, relying solely on on-chain funds won’t generate a large rebound. The safest approach is to wait until the data is out and market sentiment is fully released—if the data is positive, you can take a small position; if it’s negative and causes a sharp drop, it’s a good opportunity for medium-term traders to place orders at support levels.

Technically, the bottom is quietly forming, but tonight’s narrative depends on the non-farm data. $ETH This sports car’s engine is already sounding a bit loud; it all depends on whether the 21:30 throttle is pressed for acceleration or brake.

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