在市場動盪中，以太坊能否守住 3,200 美元的支撐位？

Will Ether's $3,200 Support Hold Amidst Market Volatility?

在市場波動的情況下，以太坊能否守住 3,200 美元的支撐位？

Ether (ETH) has taken a hit after encountering resistance at $4,100 on March 12. Over the past week, it's dropped 9%, underperforming the broader crypto market. Traders are wondering if the current support level of $3,200 will hold. For context, the total cryptocurrency market capitalization fell by 2.5% during the same timeframe.

以太幣 (ETH) 在 3 月 12 日遇到 4,100 美元阻力後遭受重創。過去一周，它下跌了 9%，表現遜於更廣泛的加密貨幣市場。交易者想知道目前 3,200 美元的支撐位是否能守住。就背景而言，加密貨幣總市值在同一時間內下降了 2.5%。

Could a Spot Ether ETF Be a Catalyst?

以太幣現貨 ETF 能否成為催化劑？

Bulls are pinning their hopes on the potential approval of a spot Ether exchange-traded fund (ETF). The U.S. Securities and Exchange Commission (SEC) is reviewing the matter, with a decision expected by May 23. However, Bloomberg senior ETF analyst James Seyffart isn't optimistic about approval.

看多者將希望寄託在現貨以太幣交易所交易基金（ETF）的潛在批准上。美國證券交易委員會 (SEC) 正在審查此事，預計將於 5 月 23 日做出決定。不過，彭博社高級 ETF 分析師 James Seyffart 對獲得批准並不樂觀。

Ethereum Upgrades: A Boost or Not?

以太坊升級：是否有所提升？

Recent upgrades to the Ethereum protocol, such as the Dencun hard fork, aim to improve scalability and layer-2 data processing. This has led to a surge in volumes for Arbitrum, Optimism, and Base, reducing transaction fees.

最近對以太坊協議的升級，例如 Dencun 硬分叉，旨在提高可擴展性和第 2 層資料處理。這導致 Arbitrum、Optimism 和 Base 的交易量激增，從而降低了交易費用。

Are Layer-2 Solutions Enough to Counter Competitors?

Layer-2 解決方案足以對抗競爭對手嗎？

While these upgrades benefit the Ethereum ecosystem, competitors like BNB Chain (BNB) and Solana (SOL) offer lower transaction fees at the base layer. DappRadar reports a 57% increase in decentralized application (DApps) volumes on Solana over the last week.

雖然這些升級有利於以太坊生態系統，但 BNB Chain (BNB) 和 Solana (SOL) 等競爭對手在基礎層提供較低的交易費用。 DappRadar 報告稱，上週 Solana 上的去中心化應用程式 (DApp) 數量增加了 57%。

Regulatory Headwinds: A Threat to Ether's Price?

監理阻力：對以太幣價格的威脅？

Bearish sentiment is growing due to the increasingly complex regulatory environment in the U.S. The SEC is reportedly investigating companies for possible connections with the Ethereum Foundation, aiming to classify Ether as a security. This probe has raised concerns about the potential denial of spot Ether ETF applications.

由於美國監管環境日益複雜，看空情緒正在加劇。據報道，美國證券交易委員會正在調查公司與以太坊基金會的可能聯繫，旨在將以太幣歸類為證券。這項調查引發了人們對以太坊 ETF 現貨申請可能被拒絕的擔憂。

Are Traders Getting Bearish on Ether?

交易者正在看空以太幣嗎？

To gauge professional traders' sentiment, let's examine the ETH options 25% delta skew. A positive skew indicates anticipations of a price drop, while a negative skew reflects bullish sentiment. The ETH options 25% skew has risen from 0% to 5% since March 21, suggesting some caution towards the $3,200 support level. However, it's worth noting that despite Ether's 11% correction over a week, the skew metric remains in neutral territory.

為了衡量專業交易者的情緒，讓我們檢查一下 ETH 選擇權 25% 的 Delta 偏差。正偏態表示價格下跌的預期，而負偏態則反映看漲情緒。自 3 月 21 日以來，ETH 選擇權 25% 偏度已從 0% 上升至 5%，這表明對 3,200 美元支撐位持謹慎態度。然而，值得注意的是，儘管以太坊在一周內回調了 11%，但偏差指標仍處於中性區域。

Ethereum's Dominance: A Saving Grace?

以太坊的統治地位：拯救之恩？

Despite the recent price setbacks, the Ethereum network remains dominant in terms of deposits, with a total value locked (TVL) of $94 billion. BlackRock's launch of a tokenized asset fund on Ethereum further solidifies the network's prominence.

儘管最近價格下跌，以太坊網路在存款方面仍然佔據主導地位，鎖定總價值 (TVL) 為 940 億美元。貝萊德在以太坊上推出代幣化資產基金進一步鞏固了這個網路的地位。

Conclusion: Will Ether's Support Break?

結論：以太幣的支撐會被打破嗎？

Given the regulatory headwinds and market volatility, the question remains whether Ether's support at $3,200 will hold. The potential approval of a spot Ether ETF and the impact of Ethereum upgrades will be key factors to watch. However, the network's dominance and the lack of intense bearish sentiment suggest that a break in support may not be imminent.

考慮到監管阻力和市場波動，以太幣 3,200 美元的支撐位是否能守住仍是一個問題。以太幣現貨 ETF 的潛在批准以及以太坊升級的影響將是值得關注的關鍵因素。然而，該網絡的主導地位和缺乏強烈的看跌情緒表明支撐可能不會很快被打破。