8.2ETH: Brother Te's trend analysis
In the ever-changing world of cryptocurrency, ETH is like a horse that is sometimes gentle and sometimes wild, stirring the hearts of countless investors. Today, let's analyze the current trend of ETH through the latest 1-hour K-line chart and today's news.
Let's start with the K-line chart. The previous trend of ETH can be described as 'a continuous decline', steadily wandering in a downward channel. However, it fortunately encountered strong support at around 3420, akin to a tired horse finding a lush meadow to rest and catch its breath, where the price has shown signs of stabilization. Moreover, the favorable non-farm news acted like a gentle breeze, bringing a glimmer of hope for a slight rise in this somewhat stagnant market.
But we can't be blindly optimistic; this market is like the weather in June, it can change in an instant. From an overall trend perspective, the resistance level for ETH is around 3674, like an insurmountable city wall blocking the price from rising further. There was a time when the price barely approached this level, only to hit a wall and immediately turn downward, causing many investors chasing highs to suffer.
Looking at today's news, Trump's statements have the market in his hands, saying one moment to hire hawks and the next needing hawks, causing price fluctuations.
Brother Te believes that ETH is currently at a critical time point. In the short term, there may be some rebound opportunities near the support level, just like a spring that has been compressed to the bottom will eventually rebound. But if we want ETH to completely break away from the downward channel and initiate a big market, we need to see if there are sufficient positive news to support it. For example, significant technological breakthroughs in the Ethereum ecosystem or a large influx of funds could serve as catalysts for ETH's rise.
For retail investors, now is not the time to be complacent. If you are a short-term expert skilled at capturing opportunities in market fluctuations, you can take a small position near the support level to gamble on a rebound, but remember to set a stop-loss, like insuring your investment to prevent sudden price changes that could lead to significant losses. If you are a mid to long-term investor, continue to be patient and wait for the trend to become clearer; after all, in the cryptocurrency world, patience can catch the big fish.
Today's ETH market is like a suspenseful chess game, every move is full of variables. Will it continue to drop after a rebound, or will it initiate a reversal? We need to closely monitor market dynamics. Fellow crypto enthusiasts, keep your eyes wide open, follow the market rhythm, and maybe the next one to make a fortune on ETH will be you! Let's wait and see where this fine horse, ETH, will gallop next.
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