$ETH After being attacked by hackers at Infini Stablecoin Bank
The chart displays the ETH/USDT pair on Binance with a 1-day time frame. Based on the technical indicators on the chart, we can analyze as follows:
Price trend:
The price of ETH is at 2,689.89 USDT, down 4.25% in the last 24 hours.
The highest price in the last 24 hours is 2,857.34 USDT, while the lowest price is 2,678.26 USDT.
The price trend seems to be in a slight recovery phase after the previous sharp decline.
Bollinger Bands (BB):
Bollinger Bands show signs of widening, indicating significant market volatility.
The price of ETH is fluctuating near the middle line of the Bollinger Bands, indicating market hesitation.
Trading volume:
Trading volume (Volume) has increased in previous sessions, indicating significant selling pressure, which may be related to the Infini stablecoin bank hack event.
Currently, the trading volume is slightly decreasing, reflecting investors' cautious sentiment.
RSI (Relative Strength Index):
RSI(6) is at 44.88, meaning it has not yet entered the oversold zone (<30), but is also not in the overbought zone (>70).
This indicates that the market is in a neutral state, with no strong reversal signals.
Stochastic Indicator (K, D, J):
K = 53.25, D = 54.98, J = 49.81, meaning the Stochastic indicator is also in a neutral zone.
There are no clear overbought or oversold signals.
Assessment of the trend after the Infini stablecoin bank hack event:
The hack of the Infini stablecoin bank may have a negative psychological impact on the crypto market in general, causing investors to panic sell their assets.
The chart shows that ETH had previously dropped sharply, but is currently in a stabilization phase.
If the market continues to lose confidence in stablecoins and money flows out of crypto, ETH may continue to decline.
However, if the market recovers and there is no further negative information, the price of ETH may maintain around the range of 2,600 - 2,800 USDT before there is a clearer trend.
