1. Current Price and Recent Performance$ETH :
- Current Price: Ethereum ($ETH ) is trading around $1,817–$1,840, down slightly by 0.5%–2.3% over the past 24 hours.
- Monthly Performance: Increased by 0.23%, but decreased by -42.55% compared to the same period last year.
- Critical Levels:
- Support: $1,761, $1,723, $1,693.
- Resistance: $1,830, $1,860, $1,898.
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2. Factors Affecting Price:
- Whale Selling Pressure: A whale participating in an early ICO sold 1,500 ETH (valued at ~1.76 million USD), increasing short-term downward pressure.
- Mixed Technical Indicators:
- Oscillators: Strong sell signals in some indicators such as RSI (55.23) and Stochastic.
- Moving Averages: The price is trading below the 50-day moving average (~$1,850), indicating a potential downward trend.
- Trading Volume: An 8% decrease in trading volume, which may reflect a decline in buyer interest.
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3. Potential Positive Factors:
- Whale Accumulation: An increase in large transactions (over $100,000) by 22%, which may indicate accumulation by large investors.
- Network Activity: The number of active addresses rose to 1.2 million (+15% from last week), reflecting strong network usage.
- Transition to Proof of Stake (PoS): Improved scalability and security after the Ethereum 2.0 upgrade, enhancing long-term confidence.
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4. Technical Forecast for Today:
- Bullish Scenario: If the price exceeds the $1,898 level (key resistance), it may target $2,000 with support from increased trading volume.
- Bearish Scenario: A breakout at $1,693 (strong support) could lead to a drop towards $1,600, especially with continued whale selling.
- Key Indicators:
- RSI: At 55.23 (neutral with a downward bias).
- MACD: Bearish signal with a cross below the signal line.
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5. Trading Tips:
- Short-term Traders: Monitoring the breakout of support/resistance levels using stop-loss orders at $1,693.
- Long-term Investors: There may be good buying opportunities at strong support levels (such as $1,671), with expectations of growth to $3,879 by the end of 2025.
