ETH Market Analysis 🚩

Yesterday, Ethereum (ETH) showed a pullback trend on the daily chart, sliding from a high of 3670 to a low of 3500, ultimately closing around 3615. Currently, an important support level is at the MA7 moving average; if it breaks below, it may further test the MA14 moving average. At this point, if the price retraces to the support area, one might consider buying on dips. The MACD indicator shows a weakening bullish momentum, with a trend towards forming a death cross.

On the four-hour chart, the MA7 moving average serves as short-term support; if it breaks, we look towards the MA60. Meanwhile, the bearish momentum in the MACD is diminishing, with the golden cross pattern beginning to show signs.