#以太坊ETF通过 🔥 Ethereum crash alarm! The $4000 threshold has been breached, when will it regain its upward momentum?
$ETH Today, the Ethereum (ETH) market experienced a certain correction, with the trading price pulling back from a recent high of $4,015 to the current $3,876.
Below are the reasons driving this correction and the market situation:
Reasons for the correction
Profit-taking: When the ETH price rises to high points like $4,015, many early buyers see profits and choose to sell, which is profit-taking. This selling behavior after a peak is common and can lead to price pullbacks.
Market sentiment: Although Ethereum dominates the decentralized finance (DeFi) space and Ethereum 2.0 staking is a bullish factor, these positive news have been temporarily overshadowed by today’s sell-off, making market sentiment cautious.
Market situation
Key levels: Currently, $3,850 is a strong support level. If this level is breached, the price may further decline to $3,800 or even $3,760. The resistance level is $3,900; if ETH can reclaim this level, then breaking through $3,950 may reignite the momentum towards $4,015 and $4,100.
Technical indicators: The Relative Strength Index (RSI) is currently cooling down from overbought levels, indicating that the recent pullback may continue for a while before entering a consolidation phase. Although trading volume has decreased, it remains stable overall, suggesting there is still a certain level of market participation and potential for rebound.
Trading strategy recommendations
Support play: If ETH can stay above $3,850, it may be worth looking for potential buying opportunities as this is a relatively strong support level. Breakout trading: If bullish momentum resumes, consider trading with a target range of $3,950-$4,015.
Overall, although today's pullback makes the market appear somewhat cautious in the short term, the fundamentals of Ethereum remain strong, and many long-term investors still have confidence in it. Whether ETH will quickly regain its bullish advantage will depend on market sentiment, trading volume, and the emergence of more positive or negative news.
#Meme齐涨 #1MBABYDOGE热度上升 Want to make big money in a bull market? Like + comment, and I will guide you through the entire bull market to seize opportunities together!
$BTC $XRP