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Over the past few months, the exchange rate between Ethereum (ETH) and the South Korean Won (KRW) has exhibited significant volatility, reflecting broader trends in the cryptocurrency market and regional economic factors. This analysis delves into the recent performance of ETH/KRW, highlighting key price movements, technical indicators, and market sentiment.

Recent Price Movements

As of May 3, 2025, Ethereum is trading at approximately ₩2,850,039.68 per ETH, marking a decrease of 2.43% over the past 24 hours. This decline is part of a broader downward trend observed over the past month, during which ETH has depreciated by approximately 28.16% against the KRW.

In the week leading up to May 3, 2025, the ETH/KRW exchange rate experienced notable fluctuations:

• March 21, 2025: ₩2,849,452.67 (-2.00%)
• March 20, 2025: ₩2,907,581.98 (-3.06%)
• March 19, 2025: ₩2,999,251.67 (+7.04%)
• March 18, 2025: ₩2,802,071.99 (+0.73%)
• March 17, 2025: ₩2,781,802.12 (+1.57%)
• March 16, 2025: ₩2,738,774.92 (-2.58%)
• March 15, 2025: ₩2,811,334.04 (+1.46%)

These daily movements underscore the inherent volatility in the ETH/KRW pair, influenced by both global cryptocurrency trends and local market dynamics.

Technical Analysis

Technical indicators provide further insight into the current market sentiment for ETH/KRW. As of March 2, 2025, the technical analysis summary indicates a "Strong Buy" signal, with moving averages and technical indicators aligning towards a bullish outlook.

Key Technical Indicators:

• Relative Strength Index (RSI 14): 53.687 (Neutral)
• Stochastic Oscillator (9,6): 99.216 (Overbought)
• MACD (12,26): 14,415.195 (Buy)
• Average Directional Index (ADX 14): 28.201 (Buy)
• Commodity Channel Index (CCI 14): 73.6907 (Buy)

The overbought condition indicated by the Stochastic Oscillator suggests potential for a price correction, while the MACD and ADX values point towards continued bullish momentum.

Historical Context

Examining the historical exchange rates provides context for the current price levels. In October 2023, ETH/KRW traded between ₩2,103,221.94 and ₩2,438,842.05, indicating that the current price is within the upper range of this historical window. This comparison highlights the cyclical nature of cryptocurrency valuations and the importance of considering long-term trends.

Market Sentiment and Volume

Market sentiment, as reflected in trading volumes and price movements, plays a crucial role in the ETH/KRW exchange rate. Over the past 24 hours, Ethereum's trading volume in KRW was approximately ₩12,748,297,688,757, indicating robust market activity. However, the recent downward trend suggests a cautious or bearish sentiment among investors, potentially driven by broader market corrections or regional economic factors.

Conclusion

The ETH/KRW exchange rate has experienced significant volatility in recent months, with notable price fluctuations and varying technical indicators. While some technical signals suggest bullish momentum, the overall market sentiment appears cautious, as evidenced by recent price declines and substantial trading volumes. Investors should remain vigilant, considering both technical analyses and broader market trends when making investment decisions in the cryptocurrency space.