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Matrixport: Ethereum's Price Momentum Weakens, Future Trend Depends on Treasury Buy Pressure and Market Narrative
BlockBeats News, August 27th, Matrixport released its latest report on social media, stating that the current market focus continues to center around Ethereum and Ethereum treasury concept companies. Ethereum's current uptrend remains intact and has found support at the moving average line. The dip-buying strategy in mid-August has proven to be effective.
Analyst Markus Thielen stated that Ethereum's upward momentum is weakening; it is expected to range between $4,355 and $4,958, with a high likelihood of retesting the $4,355 support level. The subsequent trend will largely depend on the fundraising capability of Ethereum treasury concept companies and the market narrative they convey.
This remains the core theme of the crypto market—respecting technical analysis may perhaps be the tipping point between profit and loss.
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