9.28 ETH Market Analysis
Compared to Bitcoin, Ethereum’s decline has been larger and the market has been more volatile. The market needs to track both the 6/12-hour movements and the daily timeframe. For Ethereum to reverse and start a sustained upward trend, it must hold above 2774. In the short term, this is difficult to achieve, so there’s no need to rush into bottom-fishing for a long position.
Ethereum’s structural support is at 2620. As long as the price action does not break below this level, the market will maintain a range-bound consolidation. Once there is a valid breakdown below it, a new round of downward movement will begin.
Intraday resistance: 2692 2724 2754 2774
Support below: 2656 2620 2593 2530
$ETH
Compared to Bitcoin, Ethereum’s decline has been larger and the market has been more volatile. The market needs to track both the 6/12-hour movements and the daily timeframe. For Ethereum to reverse and start a sustained upward trend, it must hold above 2774. In the short term, this is difficult to achieve, so there’s no need to rush into bottom-fishing for a long position.
Ethereum’s structural support is at 2620. As long as the price action does not break below this level, the market will maintain a range-bound consolidation. Once there is a valid breakdown below it, a new round of downward movement will begin.
Intraday resistance: 2692 2724 2754 2774
Support below: 2656 2620 2593 2530
$ETH
