The current Ethereum market is showing significant downward pressure. From a technical analysis perspective, the MACD indicator continues to show negative values, while the KDJ indicator is in a neutral state, indicating that the bearish forces still dominate.



At the same time, the risk appetite in global financial markets is decreasing, further intensifying the pessimism in the cryptocurrency market. In this environment, the price of Ethereum is likely to continue its downward trend, and investors need to be highly vigilant about potential downside risks.

Based on the current market situation, traders may consider implementing a short strategy in the range of $3870 to $3850. The potential downside target price could reach $3800, and may even hit $3700.

However, it is worth noting that the cryptocurrency market is highly volatile, and investors should conduct comprehensive market research before making any trading decisions and develop suitable investment strategies based on their risk tolerance. Additionally, closely monitoring changes in the global macroeconomic situation and regulatory environment is also a key factor in grasping the future trends of Ethereum.
ETH-0.71%
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