October 23 $ETH Market Update
This market has really been frustrating lately: it can't move higher, and whenever it drops, buyers step in.
Yesterday, ETH retested lower levels, hitting a low of 2359, very close to the 2350 support we had been watching, before rebounding to around 2400.
On the 4-hour chart, there is some support at the lows for now, but the strength of the rebound still needs confirmation.
Support has appeared around 2350 several times, but each retest has only produced a weak rebound. If buying pressure does not continue to strengthen, it may not hold the next time it's tested.
Next, watch whether it can reclaim and hold 2430–2450; only then will it have a chance to continue rebounding.
A daily break below 2300 would put the 2250–2200 zone in focus. This means the short-term structure would weaken further.
In addition, ETH/BTC also remains weak, indicating that ETH currently lacks clear relative strength. Long-term positives such as institutions moving on-chain and staking remain worth watching.
#BTC跌破81000美元
This market has really been frustrating lately: it can't move higher, and whenever it drops, buyers step in.
Yesterday, ETH retested lower levels, hitting a low of 2359, very close to the 2350 support we had been watching, before rebounding to around 2400.
On the 4-hour chart, there is some support at the lows for now, but the strength of the rebound still needs confirmation.
Support has appeared around 2350 several times, but each retest has only produced a weak rebound. If buying pressure does not continue to strengthen, it may not hold the next time it's tested.
Next, watch whether it can reclaim and hold 2430–2450; only then will it have a chance to continue rebounding.
A daily break below 2300 would put the 2250–2200 zone in focus. This means the short-term structure would weaken further.
In addition, ETH/BTC also remains weak, indicating that ETH currently lacks clear relative strength. Long-term positives such as institutions moving on-chain and staking remain worth watching.
#BTC跌破81000美元
