Ethereum makes a strong comeback! Is the next step a leap or a pullback?
Key Moments for Ethereum
The current price of ETH is $3,626.27, rising 4.54% daily, with a trading volume of 1.191 billion USDT. Recently, Ethereum rebounded from a low of $3,462.57, gradually approaching the daily high of $3,630.00. Market sentiment has clearly warmed up, and bulls are starting to dominate.
Technical Analysis: Bullish Signals Gradually Strengthening
From a technical perspective, Ethereum's short-term moving average MA(7) and medium-term moving average MA(25) have formed a golden cross, indicating that bullish momentum is recovering. Meanwhile, the long-term moving average MA(99) remains upward, suggesting that the market's medium to long-term trend is still positive.
RSI Signals
• RSI(6) is 72.76, having entered the overbought territory in the short term, and may need a slight adjustment.
• RSI(24) is 54.82, indicating an overall bullish market sentiment, but not overheated.
MACD Signals
• The MACD indicator has turned positive, and the histogram is expanding, showing that bullish strength is further increasing, with potential upward momentum ahead.
Key Level Analysis
• Support Levels:
• First Support: $3,562
• Second Support: $3,500
• Resistance Levels:
• First Resistance: $3,630
• Second Resistance: $3,700
• Strong Resistance: $3,800
In the short term, if Ethereum can break through $3,700, it is expected to challenge $3,800, further opening up upward space; however, if it cannot hold $3,562, it may pull back to the $3,500 region.
Operational Suggestions: How to Seize Opportunities?
Short-term Strategy
• Bullish Strategy:
• Buy lightly in the $3,562-$3,580 range, with a stop loss set at $3,500, targeting $3,700-$3,800.
• Defensive Strategy:
• If the price fails to break through $3,630, temporarily observe and wait for clearer trend signals.
Long-term Investor Suggestions
The medium to long-term trend for Ethereum remains optimistic, consider phased investments, but closely monitor the stability of the $3,500 support level.
Market Prediction
Ethereum has currently entered the first phase of a bullish counterattack, but short-term overbought conditions may lead to a slight pullback. If it can hold the key support and break through the upper resistance level, the next target will aim towards $3,800. If you are still observing, this might be your last chance to get on board!
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