Ethereum (ETH)
technical analysis
K-line pattern:
Ethereum closed at 3255.05 USDT yesterday, showing an overall rebound trend after a pullback.
The candlestick chart shows that after a wave of adjustments, ETH is currently hovering near the middle track of the Bollinger Band and is expected to break through upward.
Moving Average (MA):
The short-term moving averages (MA5, MA10) show signs of a price rebound and there is room for upward movement in the short term.
Although the medium-term moving averages (MA30, MA60) are still on a downward trend, a turning point may appear in the short term.
Bollinger Bands (BOLL):
The middle and upper lines of the Bollinger Bands are tilted upward, indicating that the market has a certain upward momentum.
The current price is near the middle line of the Bollinger Band. If it can break through the middle line, it is expected to test the upper line.
Volume:
The trading volume shrinks during the pullback and increases during the rebound, indicating that bullish force is beginning to accumulate.
Relative Strength Index (RSI):
The RSI is currently between 40-60. Although it has not reached the overbought range, there is room for upward movement.
Commodity Channel Index (CCI):
The CCI is currently at -21.55, which is in neutral territory and shows that there may be some upside potential for prices.
Yesterday's Trend Review
Yesterday, the price of Ethereum fluctuated around 3200 USDT, indicating that the market has strong support at this position. Combined with yesterday's trend, today's price is expected to continue to break upward.
Today's operation suggestions
Based on the above technical analysis, the following are the operational suggestions for Ethereum today:
First support level: 3350USDT
If the price pulls back to this position, observe whether a rebound signal appears and consider buying a small position appropriately.
Second support level: 3400 USDT
This position is a strong support level. If the price further falls back to this level, it is recommended to pay close attention to it, as there may be a strong rebound.
Stop loss: 3150 USDT
If the price falls below this level, consider exiting the market to avoid further losses.
The price of Ethereum today may fluctuate between 3250 USDT and 3350 USDT.
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