Academician in the cryptocurrency circle: Will the decline of Ethereum (ETH) at 6.25 continue? Latest market analysis reference

The current price of Ethereum is 1570. Has this recent decline left you feeling anxious? Don’t panic, I know you’re watching the numbers in your account spike your blood pressure, and seeing one big red candle after another is making you nervous, not knowing where the bottom is. But in times like this, you must not lose your cool and act blindly. I’m not here to give you motivational talk nor to tell you fairy tales about getting rich by buying the dip. I will present you with the most straightforward technical analysis and real trends, clarifying support resistance and long-short signals, helping you understand how to respond now, rather than being led by market emotions.

The daily K-line is in a clear descending channel, and the price has dropped below the previous consolidation platform. The EMA moving averages are in a typical downward arrangement, with short-term moving averages firmly suppressing the price. The EMA15 near 1712 and the EMA30 around 1793 create dual resistance. The MACD indicator’s downward momentum is being released. The Bollinger Bands are opening downwards, and after the price broke the middle band, it headed straight for the lower band, where the support is around 1561. The short-term weak pattern is unlikely to change, and it is highly probable that it will continue to test the validity of the previous low support near 1503.

The four-hour K-line shows a clearer downward trend, with the price being pressed down from the 23.6% Fibonacci retracement level near 1730, breaking through key support all the way down, with the current price around 1583. All EMA moving averages have turned downwards forming a downward arrangement, with the EMA15 and EMA30 in the 1669-1691 range creating a strong resistance zone, making it hard for rebounds to be sustainable. The MACD indicator's downward momentum is dominant. The Bollinger Bands are opening downwards, with the price running close to the lower band. The lower band is near 1602, providing temporary support for the price; if this fails, it will directly test the previous low support at 1503, with no obvious signs of a stop in decline in the short term.

Short-term reference:

If the price does not break below 1560 to 1530, position long, stop loss at 50 points, target at 1630 to 1680

If the price does not break above 1680 to 1720, position short, stop loss at 50 points, target at 1650 to 1600

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