March 2, 2026 Market Analysis

Last week, the market initially surged to around 1988, then oscillated and pulled back. The weekly chart closed with a small bullish candle, maintaining high-level wide fluctuations, with the amplitude clearly increasing. Over the weekend until March 2, the US-Israel conflict suddenly escalated, causing market risk aversion to spike rapidly. The market initially sold off risk assets in panic, with prices dropping to around 1940, forcing many high-leverage contracts to be liquidated; then funds started to bottom fish, forming a V-shaped recovery, and by the morning of March 2, prices rebounded to around 1972, with short-term volatility exceeding 2%.

The core news points are twofold: First, the escalation of Middle East conflict triggered short-term market panic, leading to risk assets being sold off; later, due to the decentralized nature of crypto assets, safe-haven funds began to buy the dip, resulting in a bottoming and rebound. Second, US economic data remains relatively strong, with the Fed’s rate cut expectations further delayed, and the high-interest-rate environment continues to suppress risk assets, limiting ETH’s rebound potential.

Technical analysis: Short-term support is in the 1940–1950 range; breaking below could lead to further decline. Resistance is in the 1988–2050 range; only if prices stabilize above this can an upward move be expected. From the indicators, KDJ is in the high zone, and MACD has just turned positive from negative, indicating a short-term consolidation phase. A clear trend has not yet formed, and volatility and contract risks are high.

In terms of trading, avoid blindly chasing gains or panic selling. Focus on the Middle East situation and Federal Reserve movements, reduce leverage as much as possible. It is recommended to cautiously buy on dips near 2000–2050 resistance levels, with targets around 1940–1900!

This is only personal advice, for reference only, not investment advice. Please follow Cheng Jingsheng and Shi Pan’s layout for specific strategies!!$ETH ‌#ETH