Recently, the market trend of Ethereum (ETH) has attracted widespread attention from investors. By deeply analyzing technical indicators, we can gain insight into the current market dynamics of ETH.

The MACD indicator shows that Ethereum currently has no obvious trend direction. However, it is worth noting that although the MACD histogram remains positive, it is gradually shortening, which indicates that the bullish strength in the market is gradually weakening. This sign suggests that investors need to stay alert and closely monitor market changes.

At the same time, the KDJ technical indicator also provides valuable information. Previously, the KDJ value had reached as high as 103, indicating that the market was in a state of severe overbought conditions. However, the latest data shows that the KDJ value has fallen to 46, suggesting that the market has shifted from overbought to neutral. This change implies that the market may be undergoing a correction process, presenting an overall trend of fluctuating decline.

Although the market has shown some signs of price breakthroughs, a comprehensive look at various indicators suggests that the market still leans towards a bearish trend in the short term. Analysts predict that the ETH price may encounter resistance in the range of 2420 to 2460, and it could potentially dip to support levels around 2350, 2300, or even 2250.

However, the cryptocurrency market is constantly changing, and investors need to be cautious when making decisions, taking into account multiple factors and closely monitoring market dynamics and news events to adjust their investment strategies in a timely manner.