Ethereum (ETH) future trend technical analysis and operation suggestions
1. Technical Analysis
According to the chart, the current price of ETH is $3055.79. The recent trend shows that the price has shown signs of a slight rebound after a clear downward trend. We will conduct a detailed analysis through the following technical indicators:
Fibonacci Retracements:
50% retracement: $3133.84
61.8% retracement: $2906.15
38.2% retracement: $3361.53
Bollinger Bands:
The Bollinger Bands showed increased volatility in the market and the price rebounded near the lower Bollinger Band, indicating the possibility of an upward correction in the short term.
Moving Average (MA):
The 10-day moving average ($2292.69) and the 30-day moving average ($2376.12) are forming a golden cross, which indicates that there may be an upward trend in the short term.
KD indicator (KD Stochastic):
The KD indicator forms a golden cross at a low level, indicating an oversold state and the possibility of a rebound in the short term.
2. Buying and selling point suggestions
Buy Point:
Initial buy: If the price pulls back to around the 61.8% retracement level ($2906.15) and there are signs of a rebound, you can consider an initial buy.
Add to buy: If the price breaks out and stabilizes above the 50% retracement level ($3133.84), consider adding to the buy position.
Selling point:
First selling point: When the price hits the 38.2% retracement level ($3,361.53), you can consider selling part of your position to lock in profits.
Second selling point: If the price rises further and approaches the 23.6% retracement level ($3,643.25), you can consider selling part of your position again to secure your profits.
3. Take Profit and Stop Loss Position Suggestions
Take profit position:
First take profit: $3361.53 (38.2% retracement)
Second take profit level: $3643.25 (23.6% retracement level)
Stop Loss:
Stop loss: $2906.15 (61.8% retracement level). If the price falls below this level, you should stop loss and exit the market in time to avoid further losses.
IV. Conclusion
In summary, Ethereum (ETH) is currently in a critical technical position, and brothers can operate according to the above technical indicators and suggestions. During the operation, it is necessary to pay close attention to market dynamics and flexibly adjust strategies to ensure that the maximum profit is achieved while controlling risks.
Buying point: around $2906.15 (initial), above $3133.84 (add positions).
Selling points: $3361.53 (first), $3643.25 (second).
Take-profit level: $3361.53 (first), $3643.25 (second).
Stop loss: $2906.15.
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