Wednesday Afternoon Market Sharing
In terms of the current trend, the price comparison shows a tug-of-war situation between both sides. Neither side has been able to achieve an effective continuation of the trend, lacking a clear directional breakthrough. In the morning, the price of the currency experienced a significant decline, touching around the 95,200 level. However, in the afternoon, a rebound occurred, rising to the 96,700 area, where it encountered resistance, and the upward momentum was curtailed. Overall, the market appears to be fluctuating within a relatively broad range, showing certain characteristics of range-bound oscillation, with the morning's trading also exhibiting back-and-forth activity.
From the current technical analysis perspective, in the four-hour chart, during the midday period, the price of the currency successfully recovered, and its candlestick trajectory has risen back into the upper-middle range. As the price effectively breaks through the constraints of the middle track, the Bollinger Bands are showing a flattening trend, indicating that the current market has not formed a clear one-way trend signal. Therefore, from a short-term perspective, we continue to observe the oscillating pattern of the market while noting that this oscillation pattern may contain upward potential. Recently, the highs are being tested repeatedly, indicating a certain intention to break through; however, in terms of trading volume, expectations for a strong one-sided trend in the market are not optimistic. Intra-day trading has shown frequent alternation between both sides, and the active trading period has basically come to an end. At this moment, as the price rises again to the high area, individuals can consider entering around 96,700 and set 97,000 as the stop-loss point.
Wednesday Afternoon Recommendations
The main currency is short around 96,800-97,300, targeting near 95,500. The Ethereum market is relatively strong, so it is advisable to wait and focus on buying low at 37,501,195,365 59,815,103,171.
