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, the important support level below is at the MA7 moving average; if it breaks down, it may further test the MA14 moving average. At this point, if the price retraces to the support area, it may be considered a buying opportunity on dips. The MACD indicator shows a weakening bullish momentum, with a potential death cross forming.

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