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Recently, the market trend of Ethereum (ETH) has attracted attention. Let's review the key points of this short-term market movement.
The predicted low point was around $4260, with the actual minimum reaching $4225, a discrepancy of only $35. This wave of decline is expected to be around 7%, while the actual cumulative decline reached 7.65%. The market subsequently entered a rebound and consolidation phase as expected.
The overall decline is about 0.65% more than expected, which may be due to two factors: first, the stop-loss or liquidation of large holders' long positions being triggered during the decline; second, the simultaneous drop in Bitcoin prices, which has further exacerbated the decline of ETH.
It is worth noting that when observing the 15-minute candlestick chart, we can find that the amplitude of each candlestick has significantly increased during the current consolidation period, with heightened fluctuations and more active trading volume. This phenomenon may conceal certain intentions of market participants, especially large funds.
Analyzing this market situation, investors should be alert to potential drastic fluctuations. At the same time, this may also be a signal that the market is about to enter a new phase. In this case, closely following market trends and timely adjusting trading strategies becomes particularly important.
Regarding the future of ETH, we need to continue to follow it. In the short term, the market may continue to fluctuate around the current price level. However, considering the high uncertainty in the cryptocurrency market, investors still need to operate cautiously and manage risks well.
Overall, the prediction for the short-term ETH market was quite accurate, providing us with valuable market insights. However, the cryptocurrency market is ever-changing, and we must remain vigilant and continuously follow market trends to seize investment opportunities in a timely manner.