Today, let's have a good chat about the currently hot ETH! The current ETH price is around 3341, with a peak reaching 3348 and a low dropping to 3322, and the market is currently hovering near the lower Bollinger Band. So will it rebound and rise all the way, or continue to fall? Let's analyze from both technical and news perspectives.

Technical analysis revealed

First, let's talk about the technical aspect. Everyone look at the chart; the Bollinger Bands are crucial right now. ETH is hovering near the lower Bollinger Band, which acts like a defense line; generally speaking, when the price reaches here, it either rebounds or breaks below and continues to fall.

Looking at the Fibonacci retracement levels, the current price is near the first pullback support level. This is an important signal in technical analysis. If this support level is strong and can hold the price steady, it is very likely to trigger a rebound. Just like building a house requires a solid foundation, this support level is the foundation for ETH's price rebound.

From the trading volume perspective, there hasn't been any particularly abnormal increase or decrease in trading volume recently. What does this indicate? It indicates that both bullish and bearish sides are still in a stalemate, with neither side having an absolute advantage. However, if the trading volume can significantly increase later, especially with a surge in price, then the momentum for an upward movement will be stronger; conversely, if there is a surge in selling volume, then it could be problematic, and the downward movement may be substantial.

Also, regarding the MACD indicator, although it is still below the zero line, there are already signs of flattening and even turning upwards. This is like an athlete adjusting their breathing on the track, preparing to accelerate. If the MACD can successfully cross above the zero line, the upward trend may become more certain.

The influence of news

Having talked about the technical aspect, let's discuss the news aspect. The cryptocurrency market is very sensitive; even a slight change in news can cause significant price fluctuations.

From the perspective of industry dynamics, Ethereum's upgrade has always been a hot topic. Each upgrade could bring performance enhancements and increased security, which are good news for ETH. If the subsequent upgrade of Ethereum goes smoothly, it will undoubtedly give ETH's price a strong boost, attracting more investors and driving the price up.

Zhuque's personal opinion broadcast

From a comprehensive view of technical and news aspects, my personal opinion is that the likelihood of ETH rising in the future is relatively high, but that does not mean it will soar all the way; there will definitely be some fluctuations in between.

From a technical analysis perspective, the current price position and indicators show a certain potential for rebound. As long as the first pullback support level holds, combined with subsequent trading volume, and further improvement in the MACD indicator, the probability of an upward trend will greatly increase.

Although there is uncertainty in the news, the overall direction of Ethereum's upgrade is positive. As long as there are no particularly harsh regulations and no major disruptions in the macroeconomic environment, ETH has the opportunity to leverage its advantages and the momentum of technological upgrades to achieve a price rebound.

However, the cryptocurrency market is highly risky, and everyone should not blindly follow the trend. Before investing, it is essential to conduct thorough research and risk assessment; do not put all your assets at stake. If you have your own judgment and strategy, then you can boldly try; if you are still not quite sure, it may be better to observe more and wait until the situation becomes clearer before making a decision.

Family, the cryptocurrency market is like an ocean full of opportunities and challenges; we need to explore bravely while always remaining vigilant. I hope everyone can find their own treasure in this market!

Are you trapped? When to buy the dip? Still the same thing, feeling confused and helpless not knowing what to do, click on the avatar to comment. I need followers, you need references #币安HODLer空投ERA $ETH