ETH$ETH

Let's take a look at whether Ethereum is a risk or an opportunity right now.

Ethereum has experienced a surge in the market, and it has now reached a turning point. The market for Ethereum looks very strong on both the weekly and monthly charts, but currently, on the daily chart, we can clearly see that although it has gone through three waves of movement, the strength of each wave is gradually weakening. At this point, we need to pay attention to the risk of divergence when the market attempts to make new highs but the volume does not keep up. Refer to the first chart.

The second chart shows the ETH/BTC market. From a weekly perspective, it has just broken through the downward trend line. Today is Sunday, and we are facing the opening of the weekly chart tomorrow. From a smaller timeframe, there is still a need to retrace to the trend line. Therefore, we should focus on the opening of next week. If the opening next week first goes down to retrace to the trend line, it will be an opportunity for us. If the opening goes up immediately, we need to pay attention to the risks for the next week, as we will soon face the monthly closing. What we can confirm now is that there will be a 25 basis point rate cut in September. However, based on the historical rate cut cycles and the expectations of ETF approvals, the market generally tends to rise first, then fall, and then rise again. The initial rise is due to the news that can drive market sentiment, the subsequent fall is because traditional financial money does not quickly flow into the market, and the final rise happens as traditional financial institutions' funds gradually enter the market, pushing prices up.

So what do you think about the current market conditions in the cryptocurrency space?

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