New Signals for Ethereum! Where is ETH's Next Breakout Point?

Recently, the price trend of Ethereum (ETH) has been intriguing. In the midst of market fluctuations, ETH seems to be building momentum for the next big move. So, is it still worth buying now? Let's take a look at the key data and signals.

Current ETH Trend: Consolidating and Gearing Up, Stuck Between Up and Down?

Current Price Range: $2910 - $3340.

Support Level: $2749, if broken, it may continue to test lower at $2320.

Resistance Level: $3606, if broken, it may surge towards $4034, with an upside potential of over 20%.

Currently, ETH's RSI (Relative Strength Index) is about 48, indicating neutral market sentiment. The short-term 10-day moving average is close to the long-term 100-day moving average, showing that the market is at a critical decision point.

Why is ETH Worth Paying Attention To?

1. The Ecological Value of Ethereum:

As the world's largest smart contract platform, Ethereum's Layer 2 expansions (such as Arbitrum and Optimism) and new protocol launches are attracting more and more developers and capital.

2. New Opportunities Brought by ETH 2.0:

Since the merge, Ethereum has successfully switched to PoS (Proof of Stake), with a significant decrease in inflation rates, and the amount of staked ETH continues to hit new highs. This pattern of reduced supply + increased demand is expected to drive up prices.

3. Macro Benefits:

The Federal Reserve is slowing down the pace of interest rate hikes, and market liquidity is improving, significantly benefiting ETH and other major cryptocurrencies.

Key Points Ahead: How to View ETH's Trend?

1. Short-term Focus: Breaking through $3606 is key; if it fails to break, it may continue to maintain a volatile market.

2. Long-term Logic: The decentralized finance (DeFi) and NFT ecosystems of ETH remain prosperous, and its position as the second largest by market capitalization globally is difficult to shake, with a long-term bullish trend unchanged.

ETH is currently at a crossroads. For short-term traders, it may be worth considering chasing the rally after breaking key resistance levels; for long-term investors, this period of consolidation might be a good opportunity to gradually build a position.

Remember: Bull markets are always for the patient, and early positioning is often the first step to profit.

But don't forget, walking alone on the path of trading can feel confusing and lonely. If you want to find a community or have any questions, feel free to follow the public account: Rui Ge Discusses Blockchain. Thank you for reading, and I hope we can go further together on this journey!