BOSS Wallet data source, Ethereum market news for today, latest price of ETH Ethereum: $3106.3, 24-hour drop -1.38%, trading volume $25.093 billion
According to the analysis of the candlestick chart, there is currently a downward trend. Compared to 11:00, there has been a significant increase, but a decline compared to 06:00. When the price drops while trading volume rises, it usually indicates increased selling pressure in the market, with sellers actively selling.
This situation may be due to the market's pessimistic expectations for future prices, or influenced by certain negative news, leading to panic selling. Future prices may continue to decline due to significant selling pressure and pessimistic market sentiment.
Investors should be cautious about whether the price will break through key support levels. If the support level is breached, it may trigger a larger decline. Trading volume is rising, prices are falling, and selling pressure is evident. The Williams indicator suggests that we are currently in an oversold phase.
Recently, trading volume has increased, with volume growing compared to the previous hours, while prices are declining: selling pressure is increasing.
Selling pressure in the market still exists, and any price increase may be influenced by short-term factors. It is advisable to continue observing and operate cautiously.
The above content is for reference only and does not constitute investment advice.