Ethereum Market Insights: Intense Bull-Bear Tug-of-War at Key Levels
The current movement of Ethereum is quite interesting:
The 1-hour chart just peaked at 2558 and then fizzled out, with the 2550-2560 range clearly weighing down the price. Although it broke through the 2500 mark, the momentum is obviously lacking. The daily chart is even more intriguing—after a sharp decline a few days ago, it has risen for three consecutive days, appearing strong, but the important barrier at 2600 is still unbroken.
Technical indicators reveal hidden clues:
The MACD just formed a golden cross but has already faded, and the daily chart remains in a death cross state.
The RSI indicator is stuck in a limbo, with the 58 position being quite awkward.
The moving average system is rather lively, with support at 2534, pressure at 2546, and the 30-day moving average at 2525 is about to make a move.
Volume speaks volumes:
When it surged to 2500, the volume spiked to 26428, but now during the pullback, it has shrunk directly to 17644. The daily chart is even clearer; on the day of the sharp drop, the transaction volume was 970,000, but now it’s just fluctuating around 350,000 to 400,000 daily, which is simply not enough to drive momentum.
My judgment:
We are currently in a typical "wanting to rise but not able to" scenario. If it can’t get past 2550-2560, it will have to retest 2500, and if it can’t hold 2500, then look out for 2450. Short-term traders can play the high-low strategy, but don’t expect a major market move anytime soon.
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Intraday: BTC ETH B TRB
