Daily Market Analysis - ETH

On an hourly basis, the price is currently still on the rise trendline of the 4-hour level, and hitting around 3200 will form a rebound, but the MA30 line of the 4-hour level is trending downward. Therefore, after the price rebounds, there will be further decline to reach the support level of 3100.
Looking at the daily candlestick level, it has been a Bearish line for two consecutive days. The MACD of the daily candlestick also shows a sign of strengthening downward momentum. The MA30 line of the daily candlestick has started to turn downward again. In the short term, the price will continue to probe down, with a strong support level of 3100. If the price reaches around 2900, it is a good entry point to enter a position.
The monthly line of Ethereum is a small bearish line with a long lower shadow. It has been declining for two consecutive months. The body of the bearish line is decreasing, and the length of the lower shadow is increasing, indicating that the strength of the longs is also increasing. It is nearly ten days away from the opening of Ethereum ETF trading, and the selling pressure will gradually decrease. After a period of adjustment, Ethereum will definitely lead the market trend.
Xianxian daily observation: RATS SATS ORDI SOL ETH XRP PEPE PEOPLE