ETH Market Observation: Following BTC's Weak Fluctuations, Key Support Faces Testing
Daily Pattern: The Doji Hides Opportunities
Ethereum's daily chart shows a small bullish doji similar to Bitcoin's, with trading volume reduced by a third, maintaining within the normal fluctuation range. Technical indicators indicate: the MA30 moving average is continuing to flatten, while the MACD shows signs of increasing downward momentum above the zero line, suggesting that short-term adjustment pressure is accumulating.
Key Support Level: Beware of Breakout Risks
The current price has repeatedly found support around $2320, but the rebound strength is noticeably insufficient. It is worth noting that this level has been tested multiple times without triggering a strong rebound, and the effectiveness of the support is gradually weakening. If it follows Bitcoin's downward trend and effectively breaks below $2320, it may further test the strong support level at $2130—this level corresponds to the daily MA120 moving average and will provide a more attractive buying opportunity.
Pressure and Strategy: Opportunities in Following
The upper range of $2630-$2770 constitutes a dense pressure zone, making breakthroughs difficult. In terms of operation, it is recommended: if the support at $2320 is broken, consider gradually positioning short; if it pulls back to around $2130, it has a higher margin of safety, and one can actively position long. In the current market environment, Ethereum still lacks independent market momentum, and investors need to closely monitor Bitcoin's lead role in the market.
