Last night I watched the charts until my eyes were bloodshot, so today we have to talk about this magical ETH price action! Key reminder: tonight at 20:30, the US September Non-Farm Payroll data will be released. This data will directly determine whether ETH can break above 3200, and it's also the critical point for us to recover last week's losses. There are less than 6 hours left until the data drops—if you have open positions, check your stop-loss settings right away; if you're in cash, get your ammo ready. The excitement of this move is no less than a roller coaster.

Let's talk about last night's drama—the Fed was basically putting on a two-man act. At 11pm, a certain hawkish Fed official suddenly jumped out and said, "The inflation target still hasn't been reached. Rate cuts? Not a chance." ETH immediately plunged from 3102, dropping 229 points in half an hour to a low of 2873! How many people got shaken out below 2900? I almost couldn't hold on myself.

Then at 3am, the sentiment flipped. Powell came out and directly contradicted the hawk: "The December rate cut plan remains unchanged, and current rates are already tight enough." As soon as he said this, the market instantly came back to life. ETH started a V-shaped rebound, reclaimed 2980 in 30 minutes, and this morning is holding steadily above 3000, currently fluctuating in the 3029-3056 range.

Anyone with a sharp eye can see this is a classic shakeout using news—using negative news to flush out retail panic sellers, while the big players quietly build positions.

From a technical perspective, it's very clear: 3099 is the lifeline for bulls to break out; if it holds, there's room for upside. 2981 is the defensive bottom line; if it breaks, we'll need to switch from offense to defense in the short term. Now the candlestick on the 1-hour chart...