Ethereum Daily Chart Analysis: Is the Correction Coming to an End?

Currently, Ethereum is trading around $2,010, at a critical level on the daily chart.

In terms of moving averages, the short-term averages are forming resistance, but the long-term averages still provide support above, showing a "short-term dip, long-term rise" pattern.

During the recent pullback, trading volume decreased, and selling pressure significantly weakened. Capital has not flowed out substantially, indicating more of a shakeout rather than a trend reversal.

The key support level is around $1,938. If the price can hold above $2,050 and break through the short-term resistance with increased volume, there is potential for an upward move; if it falls below $1,930, short-term risks should be noted.

In terms of strategy, it is recommended to patiently wait for clear breakout signals, avoiding rushing to buy the dip or easily relinquishing holdings. In the long run, Ethereum's fundamentals remain solid, and this correction seems more like a buildup for the next wave of market movement.

Do you think this correction has ended?