🎙️【ETH0803 Morning Report｜Should We Expect a Rebound? Watch ETH's Mood】
Good morning to the on-chain friends, today’s ETH market can be summed up in one sentence: not yet fully down, but it seems to be waking up.
📉 Looking at the data: ETH is currently priced at $3,410, down less than 1% in the last 24 hours. The lowest point touched $3,358, and the highest was just $3,409; the entire price range can be described as a toothpick.
The MACD death cross continues to trail off, and the RSI indicator is lingering near the oversold zone, technically telling us: ETH has recently been “lacking energy,” but who knows, it might perk up tomorrow.
💰 However, the funding side is still strong, with ETH ETF seeing net inflows for 20 consecutive days, totaling $5.4 billion in July, indicating that institutions are enjoying this meal more than we are. BlackRock's ETH is also comfortably resting at over a billion, suggesting: the fundamentals are still decent, so no need to rush in the short term.
📰 Two key points on the news front:
✅ Progress on stablecoin legislation + Approval of ETF creation and redemption mechanisms, both are adding bricks to the long-term ecosystem.
⚠️ But as U.S. stocks hit the brakes, the crypto market also experienced a “power outage,” indicating short-term risks remain.
🎯 The trading advice shouldn’t be too fancy:
Break above $3,400 with volume? You can cautiously test the waters;
Staying stagnant here? Then wait and see, don’t rush;
For those looking to hold long-term, don’t go all in, enter in batches between $3,350 to $3,380, and set clear stop losses!
📲 Follow me, so you don’t get lost in the market, where data speaks plainly, helping you see every critical moment of ETH clearly!
