Fundamental analysis:
Ethereum remained volatile around 2621, and Vitalik Buterin expressed his views on the situation in the face of a rapid decline in the price and market capitalization of all major cryptocurrencies, including Ethereum. Vitalik Buterin claims that many developers favor a bear market because it allows to focus on developing the most technologically advanced products and services without being distracted by financial and speculative issues. Buterin believes that the most sustainable and efficient crypto projects can benefit significantly from a "crypto winter" by gaining proper recognition from the crypto community. Vitalik Buterin stated that he cannot reliably predict the future dynamics of the crypto industry. He considered the following two main scenarios. The first is a “crypto winter,” a prolonged recession that will affect the capitalization of all major cryptocurrencies, including Bitcoin, Ethereum, and more.
Ethereum ETH/USDT - 4-hour candlestick chart shows:
Technical comments: The bearish momentum continued to drop near the lower track of the Bollinger Bands indicator. The low level reached 2579 and was supported after a short period of consolidation. In the short term, there was still a further downward trend. The Bollinger Bands indicator was closing and moving downward, and the MACD indicator was at The short area is maintained and moved down slowly, and the RSI indicator is in the short area to maintain and move;
Long-short turning point: 2655
Suppression position: 2730, 2804
Support level: 2550, 2474
Trading strategy: bearish below 2655, target 2550, 2474
Alternative strategy: bullish above 2655, target 2730, 2804
The above analysis is a personal opinion and is for reference only.