Yu Dong Market Analysis 24 Year 12 Month 28 Day ETH
Ethereum's current price is around 3,438, with little fluctuation in recent days, oscillating between 3,420 and 3,500. 3,420 is an important support level, and the short-term moving averages are also close to this position, providing strong support. From a daily perspective, the bearish strength of MACD is weakening, and the RSI is close to 43, not yet in the oversold zone, but a slight pullback is still possible. In the hourly chart, the price repeatedly tests around 3,420, with low trading volume, indicating cautious market sentiment. In the short term, the support level at 3,420 is very critical; if it breaks down, it may further dip to 3,300, but if it holds, there is a chance to challenge 3,500 again.
In terms of operations, if the price stabilizes in the range of 3,400 to 3,420, gradual buying can be considered, waiting for a rebound to test the resistance level at 3,500. If it breaks below 3,400, it is necessary to pay attention to risks, as it may trigger more selling pressure in the short term. Market sentiment is currently cautious, and with the end-of-month options expiration approaching, volatility may increase. It is advisable to flexibly adjust positions to avoid chasing high prices or heavy trading operations.
