The daily line shows a small bearish candle with upper and lower shadows, and the trading volume is one-third less than the previous day, indicating a high-level wide-range fluctuation trend.
The daily MA30 line maintains an upward trend, and the MACD shows a weakening upward momentum above the zero axis.
It is worth noting that Bitcoin is falling, and Ethereum is only following the drop without amplifying the decline. The trading pair of Ethereum against Bitcoin is showing an upward fluctuation, indicating that Ethereum has signs of strengthening.
Grayscale still holds a large amount of Ethereum spot, which continues to exert selling pressure on the market.
This fluctuating trend will continue, and after the high-level fluctuation adjustment, it will continue to surge.
Daily level resistance levels are 3550-3650-3870-4010, support levels are 3237-3080-2950-2790-2650-2570-2440.
From an hourly perspective, the current movement is a 6-hour rebound returning to the 6-hour EMA52 line, with a 30-minute pullback trend inside. In the short term, there will be a wave of downward adjustment at the hourly level before continuing the rebound trend.
In the short term, you can go long at 3230 and short at 3374.
From the three-day liquidation heat map,
Price is moving up, with some large short positions waiting to be liquidated around 3350, and a significant amount of large short positions waiting to be liquidated in the 3368-3620 area.
Price is moving down, with a large number of large long positions waiting to be liquidated in the 3248-3180 area.
