ETH

Analyzing the daily chart of ETH, the current price is near an important resistance level. Over the past 300 days, the price has fluctuated between 4,107,000 and 5,509,000. A noticeable decline has occurred in recent days, with the price dropping more than 3%. Market volatility can be observed through the Bollinger Bands indicator, and the current price volatility is historically low.
The RSI (Relative Strength Index) is currently around 40, indicating that the market is close to a bearish state. The MACD (Moving Average Convergence Divergence) shows a downward trend, particularly with the crossover of the 12-day and 26-day EMA (Exponential Moving Average), providing a sell signal.
To maintain an upward trend, a strong resistance above 4,500,000 must be broken, and if this level is not surpassed, there is a high likelihood of further price declines. Therefore, it is necessary to consider the current selling point.

External factors have significantly impacted the market, particularly recent news regarding cryptocurrency regulations. Following announcements from major countries about introducing stricter regulations on cryptocurrency trading, there has been a negative effect across the market.
Additionally, with recent inflation figures rising, there is a movement of funds towards traditional assets. These external factors have led to a reduction in overall cryptocurrency demand, negatively affecting the price of ETH.
However, thanks to the growth of DeFi (Decentralized Finance) projects and the NFT (Non-Fungible Token) market, the long-term demand for ETH remains stable. Nevertheless, short-term volatility and security issues are still factors to keep in mind. Ultimately, it is essential to closely monitor the overall trends in the cryptocurrency market.