Ethereum's market performance today has been extremely volatile! The opening price was 2641.38, briefly touching a high of 2644.32 before the market trend sharply reversed, falling to a low of 2433.80, and finally closing at 2485.76, down 5.89% for the day, with an intraday fluctuation of nearly 8%.

From a technical analysis perspective, the short-term moving average MA7 at 2681.53 and EMA7 at 2655.47 are both positioned above the price, creating resistance. The medium-term moving average has also turned downward, indicating that bearish forces are becoming dominant. The trading volume has significantly increased, indicating that funds are accelerating their exit from the market.

In terms of technical indicators, the RSI1 has fallen to a very low level of 11.74, releasing a strong oversold signal. However, given that the current downtrend shows no signs of easing, it is not advisable to rush into the market. The MACD indicator is also not optimistic; the DIF and DEA have formed a death cross and are developing downward, with the green energy bars significantly expanding, further confirming the bearish-dominated market pattern.

In summary, although the short-term technical indicators show an oversold condition, there are currently no signs of a reversal in the downtrend. Investors should adopt a wait-and-see attitude and avoid blindly trying to catch the bottom. In an environment with high volatility in the cryptocurrency market, risk control should always be a priority. It is recommended to wait for clear signs of stabilization before considering entry.