11.4 Morning Ethereum Analysis

The current Ethereum price has dropped nearly 6% in the last 24 hours, showing a clear weakness in the overall market. From a technical analysis perspective, the price has fallen below the MA5, MA20, and other short-term and medium-term moving averages, which are currently above the candlestick, forming layers of resistance. It is evident that the short-term market is dominated by the bears, and the downward trend is clear.

From the trading volume perspective, the current market participation is relatively low; at the same time, there is a possibility that related dynamics from the Federal Reserve could transmit to the market and affect investor confidence. Caution is required in operations, and it is essential to set stop-loss measures to control risk.

Short near 3650-3690, target 3450

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