Recently, the turmoil in the global financial environment has significantly impacted the cryptocurrency market. Ethereum (ETH), as one of the mainstream tokens, has not been spared and is facing selling pressure from investors. In addition, the ongoing congestion issues on the Ethereum network have also posed certain obstacles to the development of its ecosystem, with fluctuating transaction fees affecting user experience and indirectly putting pressure on the price of ETH.

From a technical analysis perspective, ETH currently shows a clear downward trend. The price chart indicates that ETH has repeatedly faced resistance near the moving average lines and that the various moving averages are in a bearish arrangement. The current price has fallen below a key support level, which may indicate that further downward space has opened up. The MACD indicator also shows that bearish forces are dominant, with the green bars continuing to expand, making the possibility of a reversal in the short term low.

In this market environment, investors need to act cautiously. For investors who already hold ETH, it is advisable to set reasonable stop-loss levels to guard against the potential risk of further declines. For those who are observing, it is not advisable to blindly enter the market at this time; it is best to wait for signs of market stabilization, such as the price breaking through moving average resistance or the MACD indicator showing a bottom divergence.

Overall, the current market is still in a phase of high uncertainty, and investors should primarily adopt a wait-and-see approach, strictly control their positions, and manage risks effectively. At the same time, it is important to closely monitor changes in the global financial markets and the technological advancements of the Ethereum network, as these factors could significantly influence the future trends of ETH. In the midst of market fluctuations, maintaining rationality and patience, and waiting for the right entry opportunity will be a wise choice.