1. Market background and K-line analysis: Based on ETH's K-line chart, combined with Bollinger Bands, moving averages, and yesterday's market trend, ETH's price is currently oscillating around the 3880-3900 range, showing some upward momentum.
Key characteristics are as follows:
Bollinger Bands (BOLL) observation: The price remains between the middle and upper bands, indicating strong bullish momentum, but the short-term upper band pressure is significant, and the market has a need for a pullback.
Moving average (MA) support and resistance:
The 5/10 day moving averages have formed a short-term golden cross, with the price running above the averages, suggesting further rebound potential in the short term.
The 30-day moving average is around 3930, forming a medium-term resistance level, and breaking through it will further open up upward space.
Trading volume: During yesterday's oscillation, the trading volume increased, but no significant breakout occurred, indicating cautious market sentiment, and both bulls and bears are still in contention.
2. Today's price prediction and operational strategy: Based on the current market and indicators, ETH may first test the bottom before rebounding. Today’s operational advice is:
Direction prediction: Short-term bullish sentiment prevails. If it stabilizes around 3880, the price is expected to challenge the 3930-3950 area.
First take-profit level: 3930 (key resistance level)
Second take-profit level: 3965 (further target after breaking through resistance)
Stop-loss level: 3860 (if it falls below 3860, the bullish structure is broken, and timely stop-loss is necessary)
3. Operational thoughts
Entry timing:
If the price retraces to the 3870-3880 support range, a light long position can be established, waiting for the price to rebound to 3930.
If it directly breaks through 3930, wait for a retracement to confirm support before re-entering a long position.
Exit timing:
First target around 3930, consider closing a portion of the position to secure profits.
If it breaks through and stabilizes at 3930, you can continue to hold until around 3965.
If the price falls below 3860, timely stop-loss is necessary to prevent further downside risk.
4. Summary and risk warning: Overall, ETH's current trend is bullish, but short-term pullback risks should still be monitored. The market needs to focus on whether the 3880 support can hold and the situation of breaking through the key resistance at 3930.
Operational advice: Remain cautiously optimistic, reasonably set take-profit and stop-loss levels, and avoid chasing prices.
Steady and methodical, market opportunities always arise from fluctuations.
ETH's key levels for today:
First take-profit level: 3930
Second take-profit level: 3965
Stop-loss level: 3860
Operation guideline: Wait for support before entering, increase positions after breaking through resistance!
The market is unpredictable, and opportunities are fleeting. Closely monitor every subtle change and seize your own opportunities to remain undefeated amidst market fluctuations. Are you ready for today? Let's look forward to the exciting performance of the market together!
To learn more about the latest market insights and trading skills, click on the avatar to follow Mr. Lin. Thank you for reading!
