$ETH Trend Brief Analysis
Current Price: The current price of ETH is 4,340.48 USDT, down approximately 0.14% from the previous day.
Trend Line: The chart shows that the medium to long-term trend lines (purple and yellow lines) are generally in an upward trend, but the recent price has pulled back, approaching the moving average support.
Short-term Fluctuations: Around August 18, the price reached a high of 4,600 USDT and then pulled back, with trading volume increasing at the peak, indicating some profit-taking pressure.
Trading Volume: Recently, trading volume significantly increased during the rise, but weakened during the pullback, suggesting the market may enter an adjustment phase.
Technical Indicators: MA7 (7-day moving average) and MA29 (29-day moving average) show that the price is currently close to the moving averages, with short-term support possibly in the 4,300-4,320 USDT range. The RSI (Relative Strength Index) does not show specific values, but based on fluctuations, it may be in a neutral zone in the short term.
Support and Resistance: The recent low around 4,300 USDT is an important support level, and the resistance level may be in the 4,400-4,500 USDT range.
Summary: The current ETH/USDT trend is in an adjustment phase, and may oscillate in the 4,300-4,400 USDT range in the short term. It is recommended to pay attention to the performance at the 4,300 USDT support level.
