The Christmas bells have rung, and ETH's market trend is as exciting as the festive atmosphere. The precise short position made significant points the day before, and although yesterday's low long did not reach the perfect point, the trend still met expectations—slowly rising while brewing a rebound. So today, can ETH break through the key level of 3600 USD on Christmas Eve? Let's take a look with technical logic and data support!
1. Market review and yesterday's trends
Yesterday, ETH continued to validate the logic of a slow rise after a pullback, steadily moving up from the support position of 3400 USD, and retreated after testing the resistance near 3550 USD in the early morning hours. Overall, bullish sentiment is gradually emerging, but the upward momentum is not strong, resulting in repeated fluctuations in the bull-bear struggle.
2. Today's technical analysis
1. Moving average system (EMA indicator)
1-hour chart
The current candlestick is under pressure nearEMA220(around 3520 USD), the first support to pay attention to below isEMA120(3460 USD) andEMA30(3440 USD) intersection point, with the defensive position set atEMA80(3400 USD) andEMA60(3420 USD).
The top resistanceis atEMA300(around 3580 USD), if this point is broken, the 3600 USD level can be expected.4-hour chart
The Bollinger Bands channel is extending upward, and ETH bulls have shown signs. The candlestick is retracing nearEMA220. The lower support level is atEMA30(3430 USD) and the middle track of Bollinger Bands (3400 USD). The top resistance focuses onEMA120(3600 USD).
2. MACD indicator
1-hour chart
The MACD is expanding below the zero axis, and the fast and slow lines are forming a death cross, indicating a short-term need for a pullback. However, this is also an opportunity for bulls to enter at lower prices. Based on the current trend, the pullback space is expected to be small, possibly stabilizing around3400 USDin the vicinity.4-hour chart
The MACD is contracting above the zero axis, indicating that the upward momentum is slowing. Based on the hourly chart, if the pullback is slow, there may be a new round of upward momentum in the evening.
3. Bollinger Bands
The Bollinger Bands are showing an upward opening pattern on both the 1-hour and 4-hour charts, indicating an overall bullish trend.
The lower support is concentrated at 3400 USD, and the upper resistance is concentrated at 3600 USD.
3. Today's operational strategy
Based on technical indicators, the overall strategy today is to focus on light long positions, with high shorts as a supplement. Pay attention to key support and resistance areas, and operate flexibly with light positions. The following are specific suggestions:
Long position strategy:
Entry range: 3430-3400 USD
Replenishment range: 3280-3300 USD
Stop-loss position: 3250 USD
First take-profit position: 3480 USD
Second take-profit position: 3530 USD
Maintain positions if it breaks: 3580-3610 USD, target 3650 USD
Logic: The support at 3400 USD is strong, and there is a high probability for bulls to rebound at this position. Combining the 4-hour Bollinger Bands and the hourly EMA support, a light long position is recommended.
4. Summary and rational prediction
Short-term trend
Although bullish sentiment for ETH is rising, there is still significant resistance above, and the overall pattern will show a volatile bullish trend.
Intraday trends may operate around the 3400-3600 USD range, with the lower support focusing on 3400 USD and the upper resistance on 3600 USD.
Operational suggestions
Maintain a trading philosophy of small losses and large profits, primarily focusing on light long positions, and flexibly adjust positions based on key support and resistance points.
If the price breaks through 3600 USD, consider adding positions in the direction of the trend, targeting around 3650 USD.
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