ChainCatcher message, on August 27, Matrixport released its latest report on social media indicating that the current market focus continues to be on Ethereum and companies related to the Ethereum treasury concept.
The current upward trend of Ethereum remains intact, finding support at the moving average, and the strategy of buying on dips in early to mid-August has proven effective. Analyst Markus Thielen stated, however, that Ethereum's upward momentum is weakening, and it is expected to fluctuate between $4,355 and $4,958, with a high likelihood of testing the $4,355 support again.
The subsequent trend largely depends on the fundraising ability of companies related to the Ethereum treasury concept and the market narrative they convey. This remains the core storyline of the crypto market—respecting technical analysis may become the dividing line between profit and loss.
