Ethereum Market Analysis
Huobi's Ethereum (ETH) opened today at 1,932 CNY, reaching a high of 1,984.82 CNY and a low of 1,915 CNY, currently up 1.44%.
As of 12:00 PM Beijing Time (August 16), ETH trades at 1,959.88 CNY. Key observations from the hourly chart:
- ETH dipped to 1,900 CNY (near recent support) at 10 PM yesterday, with elevated volume signaling minor capital outflow.
- The broader trend remains consolidative within a 1,900–2,150 CNY range, with short-term resistance at 2,000 CNY and support at 1,900 CNY.
- MACD indicators turned bullish post-rebound, suggesting temporary upward momentum.
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Ethereum Classic Market Update
Huobi's Ethereum Classic (ETC) trades at 92.4 CNY, opening at 91.39 CNY and fluctuating between 91.11–92.5 CNY (+1.1%).
Hourly chart highlights:
- ETC breached its historical low (91 CNY) at noon, entering an ultra-narrow 1-CNY range over 24 hours.
- Abnormally low volatility and shrinking volume imply either strong market manipulation or severely diminished liquidity—likely the latter.
Key Takeaways
- ETH shows resilience near 1,900 CNY, but broader consolidation persists.
- ETC lacks momentum, trapped in a liquidity vacuum with minimal price action.
- Monitor MACD crossovers and volume spikes for breakout signals.
FAQ
Q: Is Ethereum’s rebound sustainable?
A: Short-term bullish signals exist, but the 1,900–2,150 CNY range must hold for continued recovery.
Q: Why is Ethereum Classic’s price stagnant?
A: Extremely low trading volume suggests negligible market interest, risking further declines if liquidity dries up.
Q: Where can I trade ETH/ETC securely?
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Disclaimer: Data sourced from Huobi; analysis is informational only. Past performance doesn’t guarantee future results.
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