A Xin's September 25 Evening ETH Market Analysis
In the evening period, the ETH price fluctuated within a narrow range, currently reported at around 4003 USD.
From a technical perspective, on the daily level, after ETH attempted to break the 4052 USD high, it faced resistance and fell back, with the current price hovering at a critical position. The short-term moving averages are flat and intertwined with the medium-term moving averages, indicating a temporary stalemate between bullish and bearish forces. In the MACD indicator, the DIFF line and DEA line are near the zero axis, with weak red column energy, indicating insufficient market momentum.
On the news front, the overall cryptocurrency market has been significantly affected by the macro environment recently. Factors such as volatility in traditional financial markets and uncertainty in regulatory policies have led investors to maintain a cautious attitude. As a mainstream currency, ETH is also difficult to remain unaffected.
In the current market situation, ETH is at a critical juncture. If the price can stabilize and rise above the short-term moving averages, it may challenge the previous highs again. However, if the price continues to decline and breaks below important support levels, such as around 3984.25, it may trigger a new round of downward trend.
In the evening, it is necessary to closely monitor the breakthrough situation of the price. If choosing to go long, one should wait for the price to effectively break through and stabilize above the short-term resistance level while setting reasonable stop-loss points to control risk. If the price breaks below the support level, short-sellers may consider entering the market at an appropriate time, but they should also prepare risk control measures.
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