ETH Market Analysis: Following BTC Fluctuations, Key Moving Averages Set the Direction
The hourly trend of ETH moves in sync with BTC, experiencing a rapid rebound after a decline, but is constrained by the daily MA30 moving average, then entering a correction, currently maintaining a fluctuating pattern.
Key Observation Points:
The daily chart shows a small bullish candle with upper and lower shadows, and trading volume has decreased by 1/3 compared to the previous day, but it remains within the recent average, falling within the normal fluctuation range.
The MA30 moving average still maintains an upward trend, but the price is currently below this line; if it cannot recover, a continuation of weakness may occur in the short term.
The MACD is retreating from a high position towards the zero axis, and the adjustment is not yet over; however, if it stabilizes at the 2350 support level, a rebound may still be triggered.
Key Price Levels:
Resistance Zone: 2540 → 2740 → 2820 → 3066
Support Zone: 2350 (Key Defensive Level) → 2200 → 2130
The short-term trend is still dominated by BTC, and the 2350 support is crucial; losing it could accelerate the downward movement. The market is waiting for a directional choice, closely monitoring the battle for the MA30.
