The recent dynamics of the Ethereum (ETH) market have attracted close attention from crypto asset enthusiasts. The latest 1-hour Candlestick Chart shows subtle fluctuations in the ETH price. Currently, ETH opened at $3699.37, reached a high of $3710.41, a low of $3680.52, and ultimately closed at $3707.50, reflecting a slight rise of 0.22%, with an amplitude of 0.81%.

On the technical front, the short-term 7-day moving average (MA7) is $3699.68, and the 30-day moving average (MA30) is $3728.13. The short-term moving average is stabilizing, while the long-term moving average is showing a downward pressure, reflecting the fierce tug-of-war between bullish and bearish forces in the market. In terms of trading volume, the actual trading volume is 15683.5263, and the estimated trading volume is 24938.4694, suggesting that there may be potential capital movements in the market.

On-chain data analysis shows that there have been some changes in address activity on the Ethereum network recently. Some large holders' wallets have seen small-scale fund transfers, a behavior that neither resembles a large-scale sell-off nor an aggressive accumulation, but rather appears to be a cautious probing of the market response.

From a macro perspective, the Federal Reserve's interest rate hike expectations and the uncertainty regarding cryptocurrency regulation continue to affect market sentiment. However, as a leader in the public chain field, Ethereum still has strong support in terms of technology and ecosystem. The previous low of $3616.54 may have formed a potential support level, and the continuous development of technologies such as Layer2 also provides solid fundamental support for Ethereum.

Market analysts expect that Ethereum may continue to fluctuate within a certain range in the short term. If the price can break through the 30-day moving average resistance level (3728.13 USD), it may trigger a pump. On the other hand, even if the price dips to around 3680 USD, there is no need to be overly concerned, as this may be a re-confirmation of bottom support, after which a strong rebound may occur.

For Ethereum investors, closely following market dynamics, understanding on-chain data, and grasping macro news are crucial. In this market filled with opportunities and challenges, timely and accurate information may be key to seizing investment opportunities. However, given the high volatility of the Crypto Assets market, investors should proceed with caution and manage risks properly.