Ethereum (ETH) market analysis, below is the current market situation and potential trading strategies
Price Trend: Ethereum is currently priced at 2875, with the daily K-line reaching a high of 2882 and a low of 2700. This indicates that the market has experienced significant fluctuations in a short period. The price has broken through the EMA trend 120 indicator and shows a unilateral upward trend, which is often seen as a signal of market strength.
Technical Indicators: The MACD indicator shows that after a period of reduced volume, it has started to increase, with the DIF and DEA forming a golden cross and standing above the 0 axis, which usually indicates an increase in bullish strength in the market. The upper Bollinger Band has broken through the resistance level of 2810, which has now turned into a support point. This further confirms the upward trend of the market.
Four-Hour K-line: Starting from 2400, the four-hour K-line has continuously risen by more than four hundred points, showing strong market momentum. The EMA trend indicator has opened up in a net-like expansion, with EMA15 already pulled up to 2600 and is expected to continue rising to the range of 2650 to 2700 before slowing down.
Cautious Observation: Given that the market is currently in a rapid rising phase, it is recommended that investors maintain a cautious observation attitude and avoid blindly chasing prices. Wait until the supplementary rising trend ends before positioning based on market trends and technical indicators.
Pullback and Positioning: When the market experiences a pullback, consider positioning for long orders at appropriate levels. However, it is important to note that a pullback does not indicate that the market will reverse, so operations should be cautious. Based on your analysis, the potential area for long orders is below 2700 to 2750, with the defensive point set at 2650. At the same time, the stop-loss point should be set around 50 points, and the target should be aimed at 2800 to 2850, and after breaking through, it can continue to look towards 2900.
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