7.7 Ethereum Insights and Thoughts

The current price trend of Ethereum on the 4-hour K-line chart is forming an ascending pattern, characterized by a rising bottom support level, reflecting that market buying power is continuously and steadily gathering. The price has successfully broken through and stabilized above the midline of the Bollinger Bands, indicating that market sentiment is gradually warming from a low level. In terms of short-term movements, Ethereum has effectively broken through the consolidation range formed last Friday, displaying obvious characteristics of a technical rebound. The key resistance level is around 2590 USD, which coincides with the upper boundary of the current ascending channel. The MACD indicator shows a golden cross, and trading volume is moderately increasing, further validating the reliability of the current rebound. Overall, Ethereum is at a critical juncture where technical analysis and market sentiment corroborate each other. If it can effectively break through the upper resistance of the channel, it may open up greater upward space. The current price is around 2560, with a short-term target looking at 2650#Dr.Han入驻Gate广场 #Gate VIP 焕新升级 #非农就业数据来袭 .