Ethereum and Altcoins Face Difficulty in Short-Term Recovery, Risks Intensify

Yesterday, the Ethereum market experienced significant turbulence, with trading volume notably increasing during the decline, and selling pressure dominating. This situation indicates that the price trend of Ethereum in the short term is not optimistic, and the likelihood of altcoins recovering alongside it has greatly diminished.

Generally speaking, trading volume is a key indicator of the market's bullish and bearish dynamics. When trading volume expands during a decline, it means sellers are eager to offload, and panic sentiment spreads in the market, making it difficult for buyers to organize an effective counterattack in the short term. The current volume-price relationship in the Ethereum market suggests that bearish forces will continue to dominate the market direction in the short term.

For altcoins, they are often highly correlated with the trend of Ethereum. As an important foundational public chain in the cryptocurrency market, price fluctuations in Ethereum will have a ripple effect on the entire altcoin sector. When Ethereum rises, altcoins often follow suit; conversely, when Ethereum falls, it is also challenging for altcoins to stand alone. Now that selling pressure is prevailing in Ethereum, it is even more difficult for altcoins to achieve a short-term recovery.