Ethereum (ETH) Price Movement Analysis for Today and Tomorrow: Technical and Fundamental Outlook 📊

Current Situation

- Current Price: Ethereum is priced at approximately $4,631, with a slight decrease of 1.4% from the previous close.

- Volatility: Ethereum has experienced recurring fluctuations in trading volume, with a decline ranging from 2% to 4% over the past 24 hours.

Fundamental Factors and Potential Catalysts

- Inflation Retreat and Interest Rate Cut Expectations: Despite strong inflation data, market expectations for the Federal Reserve to take easing actions in September support risk assets like Ethereum.

- Strong Gains: Ethereum has risen by 41% over the past month and 14% over the week, supported by massive inflows into institutional ETF funds and the impacts of updates like Pectra and improved regulatory environment.

Technical Analysis

- Technical analysis indicates the formation of an ascending triangle with resistance around $4,735–$4,748 and ascending support.

- There are three potential scenarios: direct rise, sideways trading, and slight correction.

Overall

- The upward trend remains intact, supported by strong technical aspects and fundamental indicators.

- Caution is advised in trading with clear stop levels set and strategies prepared for entry during short corrections.

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