#ETH🔥🔥🔥🔥 #ETH
The trading strategy has been proposed earlier, showing explosive momentum; do not easily short the market.
Current market analysis:
Support levels:
$3,275: This is the point where the price has recently bounced back after multiple downward tests, very important! If it breaks below, it may drop further. $3,000: A key level, where the price has previously halted and rebounded multiple times.
Resistance levels:
$3,700: The current price is approaching this area, it's a tough 'nut to crack'. If it breaks through, it may continue to rise. $4,000: A psychological 'round number', a breakout may lead to a stronger surge.
Trend:
From the chart, Ethereum's price is generally moving upwards, in a 'slowly rising' phase, but is now close to a peak, a correction may occur.
Trading suggestions:
Short-term buying: If the price returns to $3,400-$3,450, you can try to buy, targeting a rise to $3,700 or higher, with a stop loss set around $3,300. Trend chasing strategy: If the price breaks through $3,700, you can chase long, aiming for $4,000. Shorting on a decline: If the price falls below $3,275, consider a small position short, targeting $3,000.
Notes:
On-chain data shows that Ethereum staking volume continues to grow, indicating a market optimistic about the medium to long-term rise.
Mainstream institutions continue to support Ethereum, but be wary of macroeconomic downturn risks.
Pay attention to the direction of the US Dollar Index (DXY); a stronger dollar may suppress Ethereum's price. The crypto market sentiment index is close to the greed zone, and short-term profit-taking may occur.
Don't be too aggressive in your operations. Always set a stop loss; risk control is the most important!
What do you think about the next direction of Ethereum's price? Feel free to leave a comment!