Ethereum (ETH) trend, from the technical analysis point of view, the price of ETH is currently hovering around $3,750, facing the dual pressure of key resistance and support levels.
1. **Resistance level**: ETH faces strong resistance in the area close to $3,800. If it can break through this level, the next target will be $4,000, and it is even expected to hit a high of $4,500.
2. **Support level**: The key support level below is around $3,500. Once it falls below, it may further pull back to $3,300 or lower.
- **Moving Average (MA)**: The 50-day and 200-day moving averages show an upward trend, indicating that the long-term bullish trend is still in place.
- **Relative Strength Index (RSI)**: The RSI indicator is currently in the neutral zone and has not yet entered the overbought or oversold state, suggesting that market sentiment is relatively stable.
- **MACD indicator**: The MACD line and the signal line are close to crossing, and we need to be alert to the possible increase in volatility in the short term.
- **Ethereum 2.0 upgrade**: Market expectations for the Ethereum 2.0 upgrade are a major positive factor, which is expected to improve network performance and security.
- **Macroeconomic environment**: Changes in the global economic situation and regulatory policies also have an important impact on ETH prices. Recent market conditions
In the short term, ETH may fluctuate between $3,500 and $3,800. If it can effectively break through the resistance level, it may usher in a wave of rising prices; otherwise, it is necessary to be wary of the risk of a pullback after breaking the support level. Investors should pay attention to market dynamics, combine technical analysis and fundamental factors, and do a good job of risk management.
In general, the trend of ETH has both rising potential and certain risks. It is recommended to remain cautious and pay close attention to market changes.
