Technical analysis and forecasting

The following points can be observed from the chart:

  1. Trend Review

    • Yesterday's trend: ETH rebounded after receiving support at a low level, breaking through the short-term moving average (MA5, MA10), but has not yet stabilized. MACD showed signs of a golden cross, and short-term bullish sentiment increased.

    • Overall pattern: ETH has shown strong support in the previous downward trend, and the current price is gradually testing the pressure zone above 3,800 points.

    K-line and moving average

    • The K-line has shown some consecutive positive trends recently, indicating that the bullish sentiment has recovered, but it has not broken through the previous high (about 4090 points).

    • The moving average system shows a short-term upward divergence, but the 30-day moving average (MA30) is still flat, indicating that market sentiment remains uncertain.

  2. BOLL channel

    • The current price is between the middle and upper bands of the BOLL, indicating a possibility of testing the upper band in the short term. The upper band resistance level is in the 3840-3860 area.

  3. Support and resistance levels

    • First support level: 3720 points (yesterday's low and near the BOLL middle band).

    • Second support level: 3650 points (previous bottom support area).

    • First resistance level: 3840-3860 points (near the BOLL upper band).

    • Second resistance level: 4000 points (psychological barrier and previous high resistance).

Operation suggestion

1. Bullish operation

  • Entry point: Consider going long when the price stabilizes in the 3720-3750 area.

  • Take profit target:

    • First take profit level: 3840 points (short-term resistance).

    • Second take profit level: 3950 points (strong resistance area for continued rebound).

  • Stop loss setting: Below 3670 points (breaking this point indicates a weakening trend).

2. Bearish operation

  • Entry point: Consider shorting when the price has not broken through the 3840-3860 area.

  • Take profit target:

    • First take profit level: 3750 points (short-term support).

    • Second take profit level: 3650 points (support for continued downward trend).

  • Stop loss setting: Above 3870 points (breaking the upper pressure indicates strengthening).

In summary, ETH has welcomed a short-term rebound opportunity after continuous adjustments, but one must still be cautious of the resistance area above, particularly the 3850-4000 point region, which may become a market watershed. If the price breaks through 4000 points, it is expected to continue the medium-term upward trend; conversely, if the price falls below 3650 points again, it may return to a weak oscillation range.

Today's operation suggestion is mainly based on range oscillation, be cautious in chasing the rise, and control risks reasonably! Do you see it as bullish or bearish? The market will always give us answers.

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