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Following
ETHFI Core Points
ETHFI's correction has brought support levels around $0.70 into the spotlight. Failure to successfully recover this support level may indicate further weakness. Income-driven repurchase programs buy tokens but do not permanently destroy them.
After failing to hold on to its climb towards $0.81-$0.82, ETHFI traded around $0.733 on the Coinbase daily chart at 14:07 UTC on October 1. The opening candle chart showed a decline of about 6.5%, and the final daily result still depends on the closing price of the session. This retracement pushes the lower boundary of the rising pattern into the spotlight. There may be a correction in an uptrend, but a rebound from that boundary would provide buyers with more solid evidence to defend the uptrend than a mere decline.
How the expansion of Ether.fi connects with ETHFI
Ether.fi's business has expanded from mere re-pledge to more fields. Its application, released on August 13, adds tokenized asset trading, portfolio supported lending and payment connectivity capabilities. These services provide support for its brand positioning as a "new bank of cryptos", despite Ether.fi stating that it is not a traditional bank.
This expansion has been accompanied by a reduction in EigenLayer's re-pledge business. CEO Mike Silagadze pointed out in a September 28 report that additional re-pledge layers face weak yields and perceived risk issues. It is worth noting that ordinary Ethereum pledges are still available through eETH and weETH.
产品活动通过回购计划与 ETHFI 产生关联。该计划使用提取费用和协议收入的一部分来购买代币。此前对加密货币涨幅及其基本面的分析也探讨了 Ether.fi 的使用量与代币需求之间的联系。然而，购买的代币会流向质押者或流动性池，而非被永久销毁，这意味着它们仍可日后出售。
经纪商渠道也在通过 21Shares 于 9 月 22 日推出的实物支持的 ETHFI ETP 进行扩展。其对需求的影响取决于投资者的购买行为，因此仅凭上市本身无法解释此前的涨势。当前的价格测试关键在于买方是否能守住已获得的阵地。
第一次支撑测试位于 $0.70 附近
下方的蓝色趋势线在 10 月 1 日蜡烛图中标记了约 $0.69–$0.70 的测试区域，且该位置随时间推移而上升。在此处的回调将是现有上涨趋势内的支撑测试，而非重新测试上方边界确认突破后的阻力。
If ETHFI tests this trend line and closes above it and maintains the rebound, buyers will gain a basis for recovery to $0.75-$0.78. Holding this area will further strengthen the reason for trying the blocked $0.81-$0.82 range again. Conversely, if the price closes below that line and subsequently fails to recover successfully, it indicates that previous support is resisting a rebound. A loss of $0.64-$0.65 thereafter would break recent higher lows and put the 50-day moving average into the spotlight. Because this moving average is based on past closing prices, it is more like a trend reference indicator than a guaranteed bottom.
The Relative Strength Index (RSI) can help assess the strength of a rebound
In addition to price testing, the Relative Strength Index (RSI) can assess momentum by comparing recent profits and losses (typically over 14 cycles). This chart does not include the RSI panel, so current readings or deviations cannot be determined.
If the RSI falls from above 70 but stays above 50 while prices defend support, this is consistent with cooling momentum within an uptrend. If the RSI continues to fall below 50 accompanied by a break in support, it will intensify the weak signal. In the subsequent rally, if the price high is higher but the RSI high is lower, it will also warn that momentum is fading.
Therefore, the next rally is more important than an immediate return to the high. If you can stand firm after an initial rebound, it means that the buyer has again accepted a higher price; if you are repeatedly rejected under lost support, it points to a deeper correction.
