Market Review
Ethereum closed negative at a high monthly level, and the overall upward momentum slowed down. The weekly line hit the bottom, and the focus will be on whether it can stop falling.
technical analysis
Daily chart
Downward channel: The price is still in the downward channel.
Bullish and bearish watershed: focus around 3580.
Upper resistance: around 3540.
Four-hour chart
Bollinger Bands: The three lines are flat, indicating that the price is in the correction phase.
Key suppression: 3480 suppression is very obvious.
Support below: After the support of 3400, there is a certain upward momentum.
MACD indicator: the long and short volumes change, and the golden cross opens at the bottom of the fast and slow lines.
One-hour chart
Bollinger Bands: Open and rise.
MACD indicator: continues to run with large volume.
Short-term support: focus on around 3410.
Recommendations
Robust Strategy
Short on rebound: Place short orders near 3480, target 3410, and set stop loss at 3500.
Aggressive Strategy
Short-term operation: If the price rebounds to 3540 and does not break through, you can consider short-term short selling, with the target at 3480 and the stop loss at 3550.
Summarize
Although Ethereum has some upward momentum in the short term, it is still in a downward channel overall. Investors are advised to arrange short orders at key suppression levels to ensure the robustness and effectiveness of trading strategies. Conservative investors can arrange short orders in the high suppression range, while aggressive investors can pay attention to short-term rebound opportunities and flexibly adjust their operating strategies.
