Brothers! Today we are here to analyze the recent trends of ETH, and those who want to catch the market must listen carefully.
First, let's look at the one-hour K-line chart. Recently, ETH has been oscillating in the range of 3800 - 3900 after a pullback. Technically, the lower Bollinger Band around 3848 has formed strong support, and the last drop to 3822 quickly rebounded; in the MACD indicator, the green bars are continuously narrowing, and the downward momentum is weakening, showing signs of turning upwards. Looking at the moving averages, although the short-term is in a bearish arrangement, the price is trying to converge towards the 5-day moving average near 3906. Once it stabilizes, the rebound strength is worth looking forward to.
There are also many positive fundamentals: in the Ethereum ecosystem, the DeFi locked value is very stable, the trading activity on NFT platforms has not declined, and the daily deployment of smart contracts is still increasing, with particularly high network activity; on the institutional side, large institutions like Grayscale are slowly increasing their ETH holdings, coupled with clear expectations of interest rate cuts by the Federal Reserve, traditional funds are flowing into the crypto market, and ETH, as a leading asset, will inevitably benefit.
In the short term, ETH is likely to oscillate and accumulate strength between 3850 - 3950. If it breaks through 3950 with volume, the next step could look at the resistance levels of 4050 or even 4100; even if there is a pullback, the support below 3850 is also very strong, with limited downside space. In the medium term, considering Ethereum's ecological advantages, institutional allocation demand, and the impact of deflationary mechanisms, the trend is definitely upward, as long as there are no sudden black swan events, holding is very confident.
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