1.Price analysis:
The weekly K-line has tested the 20-day moving average several times, and the MACD indicator's moving average has crossed the signal line downward, suggesting that the market may be in a downward trend. The weekly K-line has tested the 20-day moving average several times, indicating that the market has encountered resistance in the rising market and it is difficult to continuously break through the 20-day moving average. The MACD indicator's moving average crossing the signal line downward is also regarded as a sell signal, suggesting that market momentum may be weakening and the downward trend may strengthen.
The daily K-line is currently testing the 20-day moving average, which may be a signal that the market has entered a correction phase. If the daily K-line fails to effectively break through the 20-day moving average, the downward trend may be further strengthened.
The MACD indicator's moving average crossover signal line also suggests that the market's momentum is weakening. If this trend continues, it may put further pressure on the market.
Fundamental analysis:
About ETF: The U.S. Securities and Exchange Commission may reject the application for Ethereum spot ETF, which may have little short-term impact on Ethereum prices.
Regarding technology upgrades and high GAS fees: The timing of technology upgrades is uncertain, so the impact on prices is limited, but once high Gas fees and technical issues are resolved, it will contribute to the healthy development of the Ethereum ecosystem. It is worth noting that Ethereum is actively promoting the application of Layer 2 solutions, and it is expected that transaction speeds will be further increased and fees will be reduced in the future, which may become an important positive factor for the market.
In terms of the game between retail investors and large investors in the market:
There are rumors that Justin Sun is actively buying Ethereum, but there is no data to support whether he is also actively buying Bitcoin. There is also a lack of data to verify whether Justin Sun is selling other altcoins.
Sun Yuchen may have bought Ethereum to avoid market downside risks, or to prepare for good news, or to sell. Investors should pay attention to market uncertainties and possible risks and make decisions prudently.
3. Risk Warning
Before investing, please be sure to fully understand the market and project situation and develop an appropriate risk management strategy. Investors are advised not to invest more than they can afford, and to review their investment portfolios regularly and adjust their investment strategies in a timely manner.
