$ETH Morning News Market Update (10/28)

Current Price: 4,124.92 USDT, 24h drop of 0.92%.

Trend: Short-term pressure, support at 4,000, resistance at 4,200.

Volume fluctuation, MA7 crossing below MA99, looking bearish in the short term.

Important: Yesterday (10/27), the People's Bank of China and ten other departments reiterated the "Notice on Further Preventing and Dealing with Risks of Speculation in Virtual Currency Transactions", emphasizing that virtual currency-related business is illegal, and providing services from overseas exchanges to domestic entities is considered illegal financial activity, which may exacerbate pressure on the global crypto market!

Suggestion: Watch and pay attention to the breakout direction!