ETH

ETH AI Trading (Date: 2025/03/29 02:01 UTC) summarizes the decision background.

Technical Analysis

The current daily chart of Ethereum (ETH) closed at 2,840,000. Looking at the price movements over the past week, ETH is trading close to the resistance level of 2,968,000 from a low of 2,774,000. Over the last 300 days, the price trend has been generally downward, with some rebounds, but it is in a stage where it is difficult to maintain a continuous decline.

The technical indicator Relative Strength Index (RSI) has fallen below 30, indicating an oversold condition, which suggests the possibility of a price rebound. However, the Moving Average (MA) currently supports the downward trend, so there are no immediate buy signals.

Finally, the MACD indicator continues to be negative, showing the likelihood of a sustained downward trend. The 100-day and 200-day moving averages are also declining, indicating that the short-term trend is unfavorable. Overall, there is an imbalance between buying and selling pressure.

External Factors Analysis

Ethereum is currently influenced by various external factors. Recently, the market has been affected by changes in the U.S. interest rate policy and ongoing inflation concerns, which have negatively impacted most of the cryptocurrency market. In particular, for ETH, the reactions in the DeFi and NFT markets are crucial, and growth in these two areas directly affects the price.

Additionally, there has been a decrease in trading volume for Ethereum on several major exchanges, reflecting investors’ anxiety. In this situation, it is noteworthy that the demand for ETH is decreasing due to the rise of other improved cryptocurrency options such as Central Bank Digital Currencies (CBDC).

In conclusion, considering the given external environment and low confidence, it is advisable to hold ETH for the time being and to take advantage of short-term selling opportunities.