Upcoming Market Situation of #eth

Support Level: The low reached around $2,323.21 could act as a potential support level. If the price revisits this level and shows strong rejection (e.g., with long lower wicks on the candles and increased buying volume), it could present a buying opportunity. However, if this support is broken with significant volume, the price could decline further.

Weakening Bearish Momentum (MACD): The shrinking histogram bars on the MACD suggest that the strength of the bearish momentum is decreasing. A bullish crossover of the MACD lines (DIF crossing above DEA) would be a more definitive buy signal, indicating a potential shift in trend.

Break Above Short-Term Moving Averages: If the price manages to break above the 5-day moving average ($2,973.5321) with increasing volume, it could signal the beginning of a short-term recovery. A subsequent break above the 10-day moving average ($3,047.8845) would add further conviction to this potential uptrend.

In summary, potential buy points for ETH based on the current market price could emerge if:

The price shows a strong bounce back from the $2,323.21 support level with increased buying volume.

The RSI turns upwards and breaks above 40, potentially showing a bullish divergence beforehand.

The MACD lines experience a bullish crossover.

The price breaks above the short-term moving averages (5-day and then 10-day) with strong volume.