9.23 ETH Market Analysis

Yesterday, ETH experienced a cliff-like drop, starting from a high point near 4454 in the morning and plunging all the way down, ultimately reaching the round figure of 4000 USD before rebounding.
From the market sentiment perspective, this decline has not triggered large-scale panic selling. The overall position structure remains relatively robust. Even if the price falls below the 4000 mark, as long as it does not effectively break the key support level of 3800, when the next interest rate cut cycle arrives, ETH is still expected to usher in a new round of upward momentum. Of course, this is a future discussion and needs to be further observed in conjunction with the macro environment.
Technical Analysis:
- On the 4-hour level, the Bollinger Bands are opening downward, with the current range being 4649–4375–4102, indicating a short-term bearish trend.
- On the 1-hour level, the Bollinger Bands are gradually narrowing, and the market has entered a consolidation phase, currently showing a slight downward fluctuation.
- In terms of the moving average system, the 4-hour MA shows a bearish arrangement; in the 1-hour level, the short-term moving averages are starting to cross above the medium-term moving averages, indicating a signal for bullish-bearish conversion. Overall, it is currently more inclined to judge that the market is in a consolidation and repair phase, rather than a one-sided decline.
Operational Recommendations:
It is recommended to set short positions in the rebound to the 4220–4250 range, targeting around 4130–4060. Risk control can be set above 4280 based on personal tolerance. #交易员#