ETH has currently broken below key moving averages and the middle band of the Bollinger Bands consecutively, with the overall trend leaning bearish. Technical indicators favor the bears, but RSI and others have entered oversold territory, indicating limited downside space and a potential short-term rebound. However, considering the dynamics of mainstream funds (whales taking profits on longs and reopening shorts), it suggests that large capital lacks confidence in a short-term rally.
Mainstream opinions in the news suggest that ETH may need to further retrace to lower levels (such as 1,500 USDT) before a major bull market can restart. Recently, the sector has been under pressure overall, with only Bitcoin performing slightly better, which has helped ETH stay above 2,000 USDT. $ETH
[The user has shared his/her trading data. Go to the App to view more.]
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
ETH has currently broken below key moving averages and the middle band of the Bollinger Bands consecutively, with the overall trend leaning bearish. Technical indicators favor the bears, but RSI and others have entered oversold territory, indicating limited downside space and a potential short-term rebound. However, considering the dynamics of mainstream funds (whales taking profits on longs and reopening shorts), it suggests that large capital lacks confidence in a short-term rally.
Mainstream opinions in the news suggest that ETH may need to further retrace to lower levels (such as 1,500 USDT) before a major bull market can restart. Recently, the sector has been under pressure overall, with only Bitcoin performing slightly better, which has helped ETH stay above 2,000 USDT.
$ETH