ETH Morning Chat: Short-term Bears Slightly Have the Upper Hand, Look for Opportunities in the Fluctuation

Waking up in the morning, let's take a look at the ETH market. There are a few key indicators that we need to discuss, so we can have a general direction in mind after reviewing.

First, let's look at the moving averages. EMA7 is currently at 4490, which has formed a death cross with EMA30 (4533). This signal is very direct; in the short term, the bears have a slight advantage. Don't expect an immediate large rebound; we need to keep an eye on the follow-up actions of these two lines.

Next, looking at the MACD, the value is -14, still lying “underwater” without rising. For it to turn around, there's a key prerequisite—there needs to be an increase in volume. If the volume doesn't cooperate, the MACD is likely to continue to drag along, making it difficult to have a decent rebound market.

Finally, the RSI shows all three lines fluctuating between 46 and 52. This range is particularly obvious; it hasn't reached overbought levels and isn't considered oversold, indicating a typical “consolidation center” state. This means that, in the short term, ETH may fluctuate back and forth within a small range, so don’t expect it to break out into a major trend all at once.

Mu Xin's Opinion

Watch around 4470-4440 first, and then observe the breakthrough at 4550. If it can successfully break through and stabilize, the next step will be to look around 4600.

But keep an eye out; if it directly breaks below 4420, then the previous strategy needs to be adjusted quickly. If it breaks this support level, the market may weaken further, so don't stubbornly stick to the original strategy; be flexible and respond according to the actual trend. #ETH走势分析