The daily closing line is above the MA30 line, and the trading volume is just over twice that of the previous day. Big brother Bitcoin is rising strongly, while Ethereum is just following, making way for big brother.
In our recent market analysis, we have been saying that Ethereum's real rise has not yet arrived; the daily MA30 line is still in a downward trend. It still needs time to adjust, waiting for the MA30 line to flatten out, and then after adjusting, it will turn upwards. Only then will it truly begin a daily level increase.
The daily MACD fast line has crossed above the zero axis, while the slow line is below the zero axis, close to the zero axis. The short term will still maintain the current oscillating upward trend, and the hourly level will follow Bitcoin.
Be patient and wait for the indicators to adjust properly, let big brother lead the way. After big brother gains a foothold, Ethereum will rise.
Daily level resistance levels are 3825-3980-4200, support levels are 3580-3450-3300-3200.
The current hourly level trend shows a 1-hour rebound creating a top divergence pattern, with a 30-minute rebound showing insufficient upward momentum.
In the short term, short positions can be made at 3700 and 3820, and long positions at 3600 and 3550.
From Ethereum's liquidation heat map data, we can see that
The price is rising, with a large number of large and extra-large short orders waiting for liquidation in the 3748-3824 range.
The price is falling, with a small number of long orders waiting for liquidation in the 3648-3620 range, and a large number of large and extra-large long orders waiting for liquidation in the 3616-3484 range.
