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ETH Recently, the price movement of Ethereum has attracted a lot of attention. On August 18th, Ethereum’s price dropped significantly, reaching a decrease of 6.5%. In contrast, Bitcoin only fell by about 2.2% during the same period. Last week, the crypto market reached a new high, with Ethereum’s price hitting its highest level in four years. As prices rose rapidly, many investors began to take profits, and the market started to focus on various factors and risks that could affect future price trends. In this context, it is crucial for every investor to understand market movements and potential risks.
Ethereum has declined from recent highs.
Ethereum and other cryptocurrencies saw significant gains last week, as U.S. President Trump signed an executive order allowing crypto tokens and other non-traditional assets to be included in 401k plans. This development represents an important new catalyst for investment in the crypto market. Coupled with expectations that the Federal Reserve will cut interest rates multiple times this year, this could provide strong momentum for the crypto market. However, the Producer Price Index (PPI) report released by the U.S. Bureau of Labor Statistics last week showed that inflation was higher than expected. Although the Fed is expected to announce interest rate cuts at its next meeting, July data is bringing some negative sentiment to the market.
What will happen to Ethereum next?
川普政府对加密产业的支持，可能会继续成为加密市场的正面推动力。在国会通过并由美国总统签署的天才法案立法之后，众议院还通过了明确法案，该法案为更广泛的加密市场建立了监管框架。明确法案目前正在参议院等待讨论和投票，看起来有稳固的通过可能性。虽然政治动态目前对以太坊似乎是有利的，但仍然存在一些重大问题。通胀和利率的发展将继续在塑造代币价值变化中发挥关键作用，投资者将密切关注是否预期高于的PPI通胀会出现在经济的其他领域。
根据以太坊现时的图表显示，在上周强势上涨后，曾冲入高达4,700美元的区间，但距离象征性的4,800美元标志仅差一步。在那之后便回调至约4,260美元，目前市场正在整合。现时7天的图表显示交易活动急剧增加，其24小时交易量增加了63.6%，显示对太坊的需求仍然很高。市场市值保持在5,140亿美元，让以太坊的价格约低于2021年11月创下的历史最高点4,891美元的约13%，其相对强弱指数RSI仍保持于41的中性水平。
Currently, the resistance level for Ethereum is between $4,500 and $4,780. The support levels are around $4,200 and $4,100. If Ethereum is to break through new highs, it will need to remain above $4,500, along with strong trading momentum. There may be several adjustments before that happens, in preparation for a potential breakthrough to a true historical high.
