1. Overall Analysis
Recent price trends for ETH have shown a volatile downward movement, with several attempts to rebound failing to form an effective breakthrough, and accompanied by certain recovery corrections during the decline.
In the short term, the market is still in a weak consolidation phase, and it is expected that the price will fluctuate repeatedly between the middle and lower bands of the Bollinger Bands in the near future. MA7 shows a slight downward trend, indicating a higher likelihood of further weakening in the short term. At the same time, trading volume has not been sustained at a high level, indicating a lack of sufficient momentum in the short term. From a mid-term perspective, MA30 is gradually declining while the price is approaching the mid-term moving average, which indicates that the overall market sentiment remains bearish, but the downward momentum has weakened compared to earlier. The price may enter a consolidation zone to seek direction. The key support below is around 2111.00; if this level is broken, it will further test the support of the lower Bollinger Band. The resistance above is still suppressed by the middle band of the Bollinger Bands and the short-term MA (approximately 2424.07). Recommendation: Conservative investors: It is recommended to mainly observe and patiently wait for market direction to clarify before entering. Pay particular attention to changes in trading volume and price performance near key support and resistance levels. Short-term traders: Long positions can be considered for light entry near the lower Bollinger Band (approximately 2140.24), with a target at the middle band (approximately 2424.07). The stop-loss point should be set below the previous low of 2111.00. Short positions can be considered when the price rebounds to the middle Bollinger Band (approximately 2424.07), with a target around the 2200 range. Long-term investors: It is advised to remain patient and wait for the market trend to stabilize before making any moves. If the price can break through the middle Bollinger Band, and the moving average system forms a bullish arrangement, it may present a good entry opportunity. Current position still requires patience to wait for signs of stability.
It is essential to closely monitor subsequent market news and capital flows. If favorable stimuli arise, it may drive a short-term price rebound, but the overall trend should wait for confirmation after the moving average patterns improve.
2. Technical Analysis
K-line pattern: The black three soldiers pattern (three consecutive bearish candlesticks) indicates that the downtrend may continue, with a focus on the significant drop on June 21. MA: The current short-term moving average MA7 is turning down above the price, while the long-term moving average MA30 is gradually declining, indicating that the market is still in a weak consolidation phase. BOLL: The price is near the lower middle band of the Bollinger Bands, and the overall Bollinger Band channel is narrowing, with reduced volatility and significant market wait-and-see sentiment. Volume: The high point of trading volume occurred near the low point of $2111, and has since gradually decreased, indicating insufficient momentum for a market rebound.
