ETH market analysis and trading suggestions


The weekly chart has seen two consecutive weeks of gains, breaking above the 30-day moving average; however, the trading volume has clearly failed to surpass the volume from the previous two weeks of decline. The daily K-line pattern shows a steady and slow upward trend, with moving averages extending smoothly upward. There is significant resistance in the 2620-2650 range, in conjunction with the current position and performance of Bitcoin. If there is a substantial increase in volume leading to a rapid rise in the short term, the market may once again target the 2870 and 3050 levels. However, the current on-chain data for Ethereum (active addresses, TVL) has not significantly followed suit; if BTC subsequently peaks and retreats, it will drag ETH into a synchronized adjustment. The 4-hour chart shows an upward trend, with a morning peak around the 2600 points followed by a pullback. For today's trading, key resistance is at the 2600-2630 range above, while key support is at the 2540-2510 range below.
ETH-0.36%
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