Analysis of the daily chart for Ethereum: Limited pullback, waiting for a breakthrough of the zero axis to challenge previous highs

From a daily perspective, Ethereum's recent trend shows clear phase characteristics. The previous market attempted to break through the MA60 (60-day moving average) key resistance level but failed to form an effective breakthrough, subsequently entering a high-backfall trend, with short-term upward momentum weakening.

However, the current support below is also clear, with the MA120 (120-day moving average) continuously providing a bottoming effect, offering important technical support for the market. More notably, positive signals have emerged on the indicator level — the MACD indicator completed a golden cross below the zero axis, which typically suggests that short-term bearish strength is weakening, and rebound momentum is gradually accumulating, indicating that the subsequent pullback space is relatively limited.

Based on the current technical structure and support strength, if the market pulls back to around the 4000 integer level, it is highly likely to form a phase bottom. Moving forward, it is crucial to closely monitor whether the MACD indicator can gradually rise above the zero axis. Once a breakthrough at the zero axis is completed, it will confirm the continuation of the mid-term rebound trend, at which point Ethereum is expected to once again attempt to challenge the previous high of 4250. #eth #以太坊 #web3