September 23: Midday ETH Market Analysis
The overall market has digested the news, and the current price is fluctuating around 4,203. This price trend reflects the game between the bulls and bears in the market, with the previous rise possibly influenced by optimistic expectations for the development of the Ethereum ecosystem.
The support level below can be focused on 4,112. If the price can gain effective support near the support level and shows signs of a strong rebound, there is a possibility of ending the short-term correction and re-entering an upward trend; on the contrary, if the support level is effectively broken, the price may decline further.
The overall trend is seeking an upward or downward breakout in the range of 4100-4220, currently mainly focusing on shorting in the range, with some buying as a supplement, waiting for opportunities.
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