Ethereum Surges and Retreats, Fluctuation Pattern Continues
Last night, Ethereum followed Bitcoin in a rollercoaster market, making a strong advance during the U.S. stock trading session, but the sudden selling pressure in the early morning brought the price back down. The daily candlestick formed a small bearish candle with significant upper and lower shadows. Although the trading volume increased compared to the weekend, it still appears insufficient compared to weekdays, indicating a strong market wait-and-see sentiment.
The current price is repeatedly contested around the daily MA30 moving average, and the MACD indicator shows that the upward momentum is weakening. Notably, the $2425-$2460 range gathers the daily EMA52 moving average and the previous box bottom as dual support. If it retraces to this area, it may trigger a technical rebound.
The upper resistance is at $2680, and only a breakthrough can open up the space to $2770-$2960. However, given the current volume, a direct breakthrough is challenging, and it is more likely to maintain a wide fluctuation between $2450-$2680. The market is still waiting for clearer signals; investors need to remain patient and focus on the defense strength of the $2425-$2460 support zone.
For operational strategies, it is recommended:
If a stable rebound occurs in the $2425-$2460 support zone, consider gradually positioning.
If a rebound to the $2680 resistance level encounters obstacles, reduce positions appropriately.
Be cautious of a deeper adjustment if it effectively breaks below $2320.
Currently, Ethereum has not yet established an independent trend, and its performance still highly depends on Bitcoin's direction. Until the trend becomes clear, controlling positions and maintaining flexibility is key.
