Market Review and Technical Analysis

Yesterday's performance

The short orders at the 3150 level arranged yesterday achieved good profits. Congratulations to all the friends who followed the orders!

Daily Line Analysis

  • Trend analysis: The overall trend of Ethereum has not changed significantly, but the support below has moved upward. It is recommended to pay attention to around 3050.

  • Key points: The selling pressure position fluctuates 20 points above and below 3200.

Four-hour analysis

  • Bollinger Bands: On the four-hour chart, the Bollinger Bands open upward, the price is in an upward channel, the short-term support is at 3040, and the high pressure is at 3250.

  • Key points: There is a certain confusing support strength around 3070.

One hour analysis

  • Bollinger Bands: On the one-hour chart, the price is slowly fluctuating upward, and the range is between 3060-3130 and it remains in a narrow upward fluctuation.

Recommendations

Comprehensive analysis

Ethereum still has rebound pressure in the short term, but the overall trend is weak. It is recommended to continue to focus on shorting on rebounds and pay close attention to changes in key support and resistance levels.

Specific strategies

  1. Short on rebound

    • Entry point: When the price rebounds to the 3200-3250 range, arrange a short order.

    • Stop loss point: set above 3280.

    • Target point: The first target is 3100, and if it continues to fall, it can look to 3050.

  2. Key support long

    • Entry point: When the price falls back to the 3050-3070 range, consider short-term longs.

    • Stop loss point: set below 3020.

    • Target point: The first target is 3130, and if it continues to rise, it can reach 3200.

To sum up, although Ethereum has rebound momentum in the short term, the overall trend is weak. For subsequent operations, it is recommended to focus on steady rebound and short selling, pay close attention to changes in key support and resistance levels, flexibly adjust strategies, and ensure the stability and security of transactions.

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