ETH Evening Market Analysis: Variables and Opportunities in Fluctuations
The evening ETH market is trapped in a narrow range of fluctuations, with prices hovering around $4180, and the market is in a stalemate between bullish and bearish forces.
From a technical perspective, after ETH's unsuccessful attempt to reach a high of $4230.06, a correction has taken place, and the current price is near the short-term moving averages. The moving average system is gradually converging, indicating that the market is on the verge of choosing a direction. In terms of trading volume, compared to the previous period of significant fluctuations, recent trading volume has noticeably shrunk, showing a decline in market participation enthusiasm, with investors mostly adopting a wait-and-see attitude. The MACD indicator is hovering near the zero axis, also suggesting that the current market lacks a clear direction.
On the news front, the uncertainty in global financial markets has an indirect impact on ETH. Regulatory policies on cryptocurrencies have always been key factors influencing ETH's trend, and recent regulatory movements in some countries have raised market concerns. However, within the ETH ecosystem, fields such as DeFi and NFTs continue to develop, providing some support for it.
ETH may maintain a fluctuating pattern in the short term, waiting for a direction to be chosen. Investors need to closely monitor changes in policy trends and market trading volume. If the price can break through key resistance levels with increased volume, a new round of upward trends may follow; conversely, if it breaks below support, further corrections may occur.
