2024.8.28 Ethereum Market Analysis

Ethereum price has triple jump, falling below the 2500 integer support. Where will it fall back to next? Is it the best time to buy the bottom now? Let's analyze the price trend first. At present, the K-line pattern of the market has changed to a short-term downward trend, and the price has fallen back significantly. There are many long negative lines in the market, showing that the selling pressure is very obvious.

The 4-hour MACD technical indicator is in the negative area, and the DIF and DEA lines are also diverging downward, which shows that there are strong short signals in the market. The RSI value is 22.98 and the overall trend is still weak. The downward trend of the trend indicator EMA is also very obvious. EMA7 crosses EMA30 and EMA120, forming a dead cross, which further confirms the downward trend of the market. The trading volume is large and the panic selling is serious. The trading volume at high levels is relatively small, indicating that the upper pressure is large and the bullish momentum is insufficient.

Although the 1-hour K-line has rebounded, the upper resistance is still strong. At present, the market trend is not very clear, so you should choose carefully and follow the trend. Don't rush to buy against the trend. Although the general trend is rising, it is still a safe trading idea! #ETH