Matrixport: Ethereum's Price Momentum Weakens, Future Trend Depends on Treasury Buy Pressure and Market Narrative

On August 27th, Matrixport issued its latest report on social media, indicating that the current market focus continues to revolve around Ethereum and Ethereum treasury concept companies. Ethereum's current upward trend remains unbroken and has obtained support at the moving average line. The dip-buying strategy in mid-August has demonstrated its effectiveness. Analyst Markus Thielen stated that Ethereum's upward momentum is waning; it is anticipated to range between $4,355 and $4,958, with a high possibility of retesting the $4,355 support level. The subsequent trend will mainly depend on the fundraising ability of Ethereum treasury concept companies and the market narrative they convey. This still constitutes the core theme of the crypto market - respecting technical analysis may perhaps be the decisive factor between profit and loss.