Ming Ge's ETH Afternoon Market Analysis

Recently, the overall cryptocurrency market has maintained a stable pattern, with no significant positive or negative news to create notable stimulation in the market. As a core target of the mainstream public chain, Ethereum's network upgrade progress and other dynamics have always been the focus of market attention. However, currently, there is no definitive news that can significantly impact price trends. ​

From a technical chart perspective, ETH's recent price has shown a volatile consolidation: after previously hitting a high of 4026.48, it has gradually retreated, and the current price is around 3919; the 7-day moving average is reported at 3922.30, the 30-day moving average at 3926.36, and the price is overall fluctuating around the short-term moving average range. In terms of the MACD indicator, the DIF value is -1.45, the DEA value is -0.52, and the MACD histogram value is -1.85, indicating that the market's short-term bearish strength is slightly dominant. ​

In terms of short-term operations, if the price can effectively break through the 3930 level and stabilize above this position, it may be considered to make a light long position, targeting around 3980; if the price falls below the critical support level of 3900, it is likely to test the 3850 area, at which point it may be considered to opportunistically buy on dips around 3850.

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