ETH/USDT chart analysis of different time periods
1. Monthly line analysis (Figure 1): p
From the monthly chart from 2020 to date, it can be seen that ETH is showing an overall upward trend, but with large fluctuations.
- The MACD indicator is above the zero axis, indicating that the long-term upward trend is still continuing.
- The RSI indicator is in the neutral zone and does not show obvious overbought or oversold.
- The price is currently above its major moving averages, which suggests that the long-term trend remains biased to the upside.
Long-term trend assessment: tend to be bullish, but be wary of possible pullback risks.
2. Weekly analysis (Figure 2):
In the past 6 weeks, ETH has shown a fluctuating upward trend.
- MACD indicator shows a golden cross, and short-term momentum has increased.
- RSI is above the neutral zone, indicating some upward momentum.
- Prices are above the main moving averages, and the medium-term trend is positive.
Medium-term trend assessment: tend to be bullish, but the upside may be limited.
3. Daily line analysis (Figure 3):
In the past 30 days, ETH has generally shown a sideways fluctuation pattern.
- MACD indicator is close to zero, indicating a weakening of short-term momentum.
- RSI fluctuates around 50 and shows no clear direction.
- Prices fluctuate around the main moving averages, and the short-term trend is unclear.
Short-term trend assessment: range oscillation, need to wait for clear breakthrough signal.
4. Four-hour line analysis (Figure 4):
ETH has shown a slight upward trend in the past week.
- The MACD indicator is above the zero axis, and the short-term momentum is biased upward.
- The RSI is around 60, indicating some upward momentum but not yet overbought.
- The price is above the main moving averages, and the short-term trend is optimistic.
Short-term volatility assessment: biased towards the upward direction, but be wary of possible pullbacks.
5. One-hour line analysis (Figure 5):
In the past three days, ETH has been fluctuating in a narrow range.
- The MACD indicator fluctuates around the zero axis, and the short-term momentum is unclear.
- RSI fluctuates around 50 and shows no clear direction.
- Prices fluctuate around the main moving averages, and the short-term trend is unclear.
Real-time market trend: range-bound, need to wait for breakthrough signal.
Forecast (July 18 to August 18, 2024):
Based on the above analysis, I expect ETH to fluctuate in the range of $3,200-3,800 within this month. It may try to break through the $4,000 mark, but there is also a risk of a pullback to the $3,200 support level. The overall trend is upward, but the volatility may be large.
Order strategy:
1. Conservative investors:
- Buy point: Buy in batches in the range of $3200-3300
- Selling point: Sell in batches in the range of 3700-3800 USD
- Stop loss point: set at $3,000
2. Conservative investors:
- Buy point: Buy in the range of $3300-3400
- Selling point: Sell in the range of 3700-3900 USD
- Stop loss point: set at $3,100
3. Aggressive investors:
- Buy point: Buy in the range of $3400-3500, and increase position when it breaks through $3800
- Selling point: Sell in the range of 4000-4200 USD
- Stop loss point: set at $3,200
Precautions:
1. The above strategies are for reference only. Actual operations should be based on personal risk tolerance and real-time market changes.
2. Pay close attention to market news and major events, which may cause drastic price fluctuations.
3. It is recommended to use stop-loss orders to control risks and not invest all funds in a single transaction.
4. The cryptocurrency market is volatile. Investors should act with caution and not invest more than they can afford.
