ETH Ethereum price falls below 4400 USD, down 4.76% in 24 hours, follow long order opportunities around 4200 USD!

1. Direct inducement: Multiple bearish factors resonate
1. Macroeconomic data shock
PPI exceeds expectations: The U.S. PPI rose by 0.9% month-on-month in July (expected 0.5%), and year-on-year it increased to 3.3%, indicating persistent inflation. The market is concerned that the Federal Reserve will postpone interest rate cuts, leading to a short-term rise in the dollar index and pressure on crypto assets.
Low unemployment rate: The number of unemployment claims for the week was lower than expected, reinforcing expectations of "high interest rates lasting longer," leading to a sell-off of risk assets (including ETH).
2. The funding situation deteriorates
ETF net outflow: The US spot ETH ETF saw a net outflow of $293 million in a single day, ending a streak of six consecutive days of net inflow, as institutions took short-term profits.
Whale Sell-off: A certain whale address transferred 26,182 ETH (approximately $92 million) to the exchange within 24 hours, triggering market panic.
3. Technical Breakout
Key support lost: ETH fell below $4450 (1-hour support) and the psychological level of $4400, triggering programmatic stop-losses and accelerating the fall.
On-chain selling pressure intensifies: the validator withdrawal queue has surged to 671,900 ETH (3.1 billion USD), and the de-leveraging actions of stakers further suppress prices.

Future trend projection
1. Short term (1-7 days)
Key support: $4200 (July low), $4000 (psychological level). If it falls below $4200, it may trigger algorithmic trading selling pressure, testing $3800.
Resistance for rebound: $4500 (20-day moving average), $4600 (previous high pressure), a breakthrough requires volume support. Follow long order opportunities around $4200! #美7月PPI年率高于预期#