Market Overview
Ethereum (ETH) continued to rise yesterday, currently priced around $3196.9, with the market showing strong bullish sentiment. The ETH price is constantly breaking through key resistance levels, and the current trend shows a clear upward trajectory. Investors are focusing on whether it can continue to climb or face a short-term correction. The following analysis is provided based on daily, four-hour, and one-hour charts for operational suggestions.
Daily Chart Analysis
On the daily chart, Ethereum has shown a strong rebound since early November, currently stabilizing above $3000, with the price close to $3200. Prices are steadily rising, with the EMA short-term moving average (10-day moving average) and medium to long-term moving averages (30-day, 60-day moving averages) forming a bullish arrangement, showing a strong upward trend. In the MACD indicator, the DIF line crosses above the DEA line, with bullish momentum continuously increasing, and the histogram showing obvious positive values, indicating strong control by the bulls at the daily level.
The RSI (Relative Strength Index) is currently in the overbought zone but has not yet shown a turning point; market sentiment remains optimistic. Overall, the daily chart shows a strong bullish trend, and the price is expected to maintain an upward momentum in the short term.
Four-Hour Chart Analysis
In the four-hour chart, Ethereum's candlestick continues to rise, currently maintaining high oscillation around $3200. The moving average system shows a bullish arrangement, with the 20-period moving average providing support to the price. The MACD indicator shows that bullish momentum is continuously being released, but the growth rate of the histogram has slightly slowed down, with the DIF and DEA lines flattening at a high level, indicating a potential need for short-term fluctuation.
The RSI indicator is around 75, in an overbought state, requiring caution for possible short-term pullbacks. It is advised to pay attention to the support at $3200; if the support holds effectively, there is still a possibility of further upward movement; otherwise, a short-term pullback may occur.
One-Hour Chart Analysis
From the one-hour chart, Ethereum shows signs of sideways consolidation near $3200 in the short term. The current price is basically above the 20-period moving average, indicating a certain level of support strength. In the MACD indicator, the histogram shows that bullish momentum has weakened, with the DIF line slightly declining and approaching the DEA line, suggesting that short-term upward momentum has slowed down.
The RSI indicator is close to 70, still in the overbought range. Considering the short cycle, the price may face a slight adjustment. Investors should pay attention to the short-term support near $3150; if this level is broken, it may further test $3100. If it remains stable above $3200, a new round of upward movement may begin.
Operational Suggestions
Steady Operation: Wait for the price to pull back to around $3150. If the support holds, enter positions in batches to go long, targeting $3300. If the price breaks below $3100, consider stopping losses and observing.
Aggressive Strategy: Currently, the price is around $3200. If it breaks through $3220 in the short term, a light position can be taken to go long, targeting $3300, but be sure to pay attention to taking profits and stop-losses at any time to prevent pullback risks.
Risk Control: Currently, Ethereum is at a high level, with obvious signs of overbought in the short term, presenting certain adjustment risks. It is advised to control positions, pay attention to stop-losses, and prevent losses caused by price pullbacks.
In summary, Ethereum's current trend remains strong, but it may face certain adjustment pressure in the short term. Investors need to remain rational, focus on key support and resistance levels, control positions reasonably, and operate in accordance with the trend.
