From a technical analysis perspective, Ethereum (ETH) has stabilized above the seven-day moving average, but the pressure from the 30-day moving average is quite evident, which may indicate that the market is in a state of tug-of-war between bulls and bears in the short term.

Stabilization above the seven-day moving average

• Short-term trend: The stabilization above the seven-day moving average suggests that Ethereum may have found a certain support level in the short term. This could mean that the selling pressure in the market has eased, and the bullish forces are beginning to attempt a counterattack.

• Technical indicators: From the perspective of moving averages, the stabilization of the seven-day moving average may be accompanied by improvements in indicators such as the Relative Strength Index (RSI), indicating a stabilization of market sentiment.

Significant pressure from the 30-day moving average

• Mid-term trend: The pressure from the 30-day moving average indicates that Ethereum is facing some selling pressure in the mid-term. This may be because there is a significant concentration of selling forces near the 30-day moving average, and the market needs more time to digest this selling pressure.

• Technical analysis: From a technical analysis perspective, the pressure from the 30-day moving average may mean that the market is unlikely to break through this resistance level in the short term. If the price cannot effectively break through the 30-day moving average, it may continue to hover around this level.

Comprehensive analysis

• Market sentiment: Currently, Ethereum has stabilized above the seven-day moving average, but the pressure from the 30-day moving average indicates that market sentiment is relatively cautious. Investors may be waiting for more signals to confirm the direction of the market.

• Future trend: If Ethereum can break through the pressure from the 30-day moving average, it may usher in a wave of upward momentum; however, if it continues to be constrained by the 30-day moving average, the price may continue to fluctuate between the seven-day and 30-day moving averages.