#ETH🔥🔥🔥🔥

2024/07/09

As you can see from the chart, this is the daily trend chart of ETH (Ethereum). The main technical indicators include MA5, MA10, MA20 and SAR indicators.

The following points can be observed so far:

Current price position: The current price of ETH is $3,030.01, which has just fallen below the MA5, MA10 and MA20 moving averages, showing some downward pressure. Moving average analysis: MA5 is at $2,996.30, MA10 is at $3,171.54, and MA20 is at $3,300.86. Prices fell below these moving averages, indicating that the short-term price trend may be to the downside. SAR indicator: SAR is at $3,349.24, indicating that the current market is in a downward trend. Trading Volume: Trading volume has increased in recent times, especially during price declines, indicating heavier selling pressure.

Taken together, the current trend of ETH is in a downward channel. If the price cannot rise back above the MA in the next few days, it may drop further. Key support could be found at $2,791.53, a previous low. If the price can recover and stand above the MA, there may be a chance for a rebound.

It is necessary to pay close attention to market dynamics, especially changes in trading volume and whether the price can break through the moving average pressure.