ETH is fluctuating and consolidating, and short-term fluctuations are about to break out!

The current real-time price of ETH is $3561.66, with small intraday fluctuations, reaching a high of $3602.85 and a low of $3550.07. The market is temporarily in a consolidation stage, and there is a high possibility of a breakthrough in the short term. Investors should pay close attention to key support and resistance levels.

Technical analysis:

Support and resistance:

Support level: $3550.07 is the lowest point of the day. As a strong support level, if the price falls below this level again, it may further fall back to around $3530. Resistance level: $3602.85 is the high point of the day. After breaking through this resistance level, ETH is expected to test the price range of $3660 or even higher.

Bollinger band analysis:

The current ETH price is close to the middle track of the Bollinger band, and the price is in a volatile range. If it breaks through the upper track of $3602.85, it may usher in an upward trend. If it falls below the lower track of $3550.07, a downward adjustment may occur.

RSI indicator:

RSI is currently at 56, which is still in the neutral range, indicating that the market is not overheated or overcooled, and there may be violent fluctuations in the short term. If RSI breaks through 60, ETH's upward momentum may increase. On the contrary, if it falls below 50, it may face downward pressure.

Short-term contract T+0 strategy:

Long strategy:

Entry position: When ETH breaks through $3602.85 and maintains an upward trend, you can consider going long. After the breakthrough is confirmed, ETH is expected to rise further to $3660. Stop profit position: The target price is the $3660 and $3680 area. If the upward momentum is strong, you can chase high and maintain your position. Stop loss position: If the ETH price falls below the support level of $3550.07 and continues to fall, stop loss should be made in time.

Short strategy:

Entry position: If ETH fails to break through $3602.85 and falls back to near the support level of $3550.07, you can consider shorting. Take profit position: The target price is $3530 and $3500. If the price continues to pull back, it may further drop to $3450. Stop loss position: If ETH breaks through $3602.85 and continues to rise, stop loss and exit the short position.

ETH is likely to break through the resistance level of $3602.85 in the short term and test the target price of $3660. If the breakthrough is smooth, going long will be the best choice. But if the price fails to break through and falls back below $3550.07, there may be an adjustment, and shorting is also a viable strategy.$ETH