A Xin's September 25th Afternoon ETH Market Analysis
During the afternoon session, ETH's trend continues to be under pressure, and the market trading atmosphere is cautious.
From a technical perspective, the ETH daily chart shows a clear downward trend. In terms of formation, the price is within a descending channel, and several rebounds have been resisted at the upper track of the channel, indicating heavy pressure above. The moving average system is in a bearish arrangement, with MA7 crossing down through MA30, forming a death cross, which is a typical short-term bearish signal. Meanwhile, in the K-line combination, the number of bearish candles dominates and the bodies are relatively long, indicating that bearish forces are dominant. In terms of trading volume, during the price decline, the trading volume has expanded, showing strong market selling sentiment and a lack of sufficient buying support. The MACD indicator operates below the zero line, and the green bars continue to expand, further confirming the weak pattern in the short term.
On the news front, the recent cryptocurrency market has been significantly affected by the uncertainty of the global macroeconomic environment and regulatory policies. The volatility of the traditional financial market has transmitted to the cryptocurrency sector, leading to a decrease in investors' risk appetite. Additionally, although the Ethereum network is continuously developing and upgrading, it has not provided significant positive stimuli to the market in the short term.
The weak technical formation and the bearish news factors together lead to a poor performance of ETH in the afternoon market. In the short term, the price may continue to maintain a volatile downward trend, with key attention needed on the support strength near previous low points. If the support level is effectively broken, the ETH price may further open up downward space. Investors should remain vigilant, reasonably control their positions, and closely monitor market dynamics and related policy changes to respond to potential risks.
