1. Daily Line Analysis
Currently, the price of Ethereum (ETH) is $2,285, and the daily chart shows that it is in an overall downward trend. Since the previous high of nearly $3,200, ETH has been fluctuating downward and is currently below MA30 ($2,400) and MA120 ($3,154), indicating that the medium- and long-term trend is still bearish. On the daily chart, the fast and slow lines of the MACD indicator are both below the zero axis, indicating that the short-selling force is strong and the kinetic energy column is showing a continuous increase in volume.
At the same time, Ethereum is currently below the 38.2% Fibonacci retracement line ($2,410), indicating that there is a lot of pressure to rebound in the short term. The key support level is around $2,200. If it falls further below this support, it may open up downward space and test the $2,000 mark.
Daily operation suggestions: If ETH can stand firm at the $2,200 support and the trading volume increases, you can consider placing long orders in the 2,200-2,300 range with a light position, with the target at around $2,400. If it falls below $2,200, it is recommended to stop loss and exit the market, and wait for around $2,000 before making another layout.
2. Four-hour line analysis
On the four-hour chart, ETH is hovering around $2,300 and is still in a downward channel. The moving average system shows that both MA30 ($2,330) and MA120 ($2,500) are in a short position, with strong short-term suppression. ETH's recent rebound has been suppressed by short sellers.
The MACD indicator shows that the fast line and the slow line are sticking together at a low level and there is an expectation of a golden cross, but the momentum column is shrinking and the short-selling force has weakened. There may be a demand for a rebound in the short term, but the rebound strength may be limited. The main pressure level is around US$2,330.
Four-hour operation suggestions: In the short term, if ETH can break through the resistance level of $2,330, you can consider going long with a light position, with a target of $2,400. If the price continues to be blocked below $2,330, it is recommended to wait and see or arrange a short order, with a target of $2,200.
3. One-hour line analysis
The one-hour chart shows that Ethereum is still facing strong pressure in short-term fluctuations. The price has failed to test near $2,330 several times and has now fallen back to $2,285. The short-term moving averages MA30 and MA120 are both in a short position, indicating that the short-term trend is still weak. The MACD indicator is running below the zero axis, and the fast and slow lines have shown signs of a golden cross, but the rebound strength is limited, indicating that the short-term trend may be mainly volatile.
One-hour operation suggestion: If the price can effectively break through the pressure of the 2300-2330 USD range, you can consider short-term layout of long orders, with the target at 2400 USD. If the price continues to fluctuate below 2300 USD, it is recommended to wait and see in the short term, and pay attention to the support level of 2200 USD.
Summarize
Ethereum's overall trend is still bearish, but there is a certain rebound demand near the $2,200 support level in the short term. Investors need to pay close attention to the performance of the two key positions of $2,300 and $2,200. If the price breaks through $2,330 in the short term, it is expected to start a rebound, with the target at $2,400; if it falls below $2,200, the bears may further exert their strength and open up the downward space to $2,000.
