$ETH

【Ethereum Under Pressure During the Day, Focus on Key Support Levels】

Ethereum is currently priced at $1557, continuing a technical adjustment trend during the day. The 4-hour MA7/25/99 moving averages maintain a bearish arrangement, with the MACD dual lines flat below the zero axis, and the RSI (42) and KDJ (35) both in weak territory, indicating that short-term selling pressure has not yet been fully released. If the price continues to be capped by the resistance zone of $1580-1600, it may drop to the support level of $1530 (Fibonacci 38.2% retracement level), and if it breaks that level, it could accelerate testing the psychological level of $1500.

On the macro level, the overnight U.S. core CPI YoY at 3.3% exceeded expectations, making the market's expectation for an interest rate cut in September drop to 53%, while the dollar index strongly suppresses risk assets. On-chain monitoring shows that Ethereum whales have net transferred 120,000 ETH to exchanges in the past 24 hours, and the derivative funding rates have turned negative, increasing bearish sentiment. Caution is needed as U.S. tech stocks may continue to adjust, which could lead to ETH weakening in tandem, but if it stabilizes above the support level of $1530 during the day, oversold recovery demand might trigger a short-term rebound, with the volatility range temporarily looking at $1500-1600.