September 24, $ETH early morning analysis
Current ETH price is 2637.56. The intraday drop is 3.90%. In the short term, it has seen a rapid sell-off. From the 15-minute Bollinger Bands, the price has broken below the lower band; the Bollinger channel is opening downward, and short-term bearish momentum is being concentrated and released.
Lower Bollinger Band LB: 2635.13; intraday low: 2636.30. The current price is tightly hugging the lower band, which indicates a short-term oversold condition. There is a possibility of a small technical rebound and repair, but the broader short-term trend remains bearish. Overall, ETH is currently caught in a triple negative situation: institutional withdrawal, large holders distributing, and macro tightening. The short-term technical breakdown and the deterioration of fundamentals are creating a synchronization effect. In the near term, it’s not advisable to rashly call a bottom. The weekly support around $2,550 will be the key watershed determining the medium-term direction.
OneFan’s personal suggestion: buy in batches between 2750-2830, targets around 2625-2560 near $BTC #比特币两度受阻87300美元
Current ETH price is 2637.56. The intraday drop is 3.90%. In the short term, it has seen a rapid sell-off. From the 15-minute Bollinger Bands, the price has broken below the lower band; the Bollinger channel is opening downward, and short-term bearish momentum is being concentrated and released.
Lower Bollinger Band LB: 2635.13; intraday low: 2636.30. The current price is tightly hugging the lower band, which indicates a short-term oversold condition. There is a possibility of a small technical rebound and repair, but the broader short-term trend remains bearish. Overall, ETH is currently caught in a triple negative situation: institutional withdrawal, large holders distributing, and macro tightening. The short-term technical breakdown and the deterioration of fundamentals are creating a synchronization effect. In the near term, it’s not advisable to rashly call a bottom. The weekly support around $2,550 will be the key watershed determining the medium-term direction.
OneFan’s personal suggestion: buy in batches between 2750-2830, targets around 2625-2560 near $BTC #比特币两度受阻87300美元
