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The crypto assets market has always been a field full of opportunities and challenges, and the recent trend of Ethereum (ETH) is a typical example. Recently, the price of ETH has experienced a series of dramatic fluctuations, showcasing the uncertainty and potential opportunities in the market.
After the Federal Reserve's interest rate decision was announced, the price of ETH plummeted to $3670, triggering a brief panic in the market. However, the subsequent 'V-shaped rebound' pulled the price back to $3760, where it remained for several hours, seemingly signaling the arrival of a larger fluctuation.
Following this, due to new developments in the trade relations between the US and South Korea and the US and Brazil, the price of ETH surged again, reaching as high as 3869 USD. However, the key resistance level of 3880 USD temporarily blocked further increases.
Market observers have noted that ETH is currently hovering around $3860, forming a striking W-shaped double bottom pattern. This technical formation is often seen as a potential signal for an upward trend, sparking speculation about a breakout above the $3880 resistance level.
From a technical analysis perspective, if ETH can break through $3880, the next target price may be $3900, and it may even challenge the $4000 mark. However, investors should bear in mind that the Crypto Assets market is highly volatile, and any predictions come with uncertainty.
In any case, the recent fluctuation of ETH once again proves that the Crypto Assets market is filled with both opportunities and risks. For participants, it is crucial to stay vigilant, be well-prepared, and make decisions based on their own risk tolerance.