Ethereum showed a trend of oscillating rebound in the morning session of the most recent trading day. In the evening, the price once surged to 2265, and then there was a correction. In the early morning, the price fell to around 2196, but it received support at this key position and began to rebound. Currently, the market of Ethereum is fluctuating around 2230.
Regarding yesterday's operation suggestions, I mentioned in the article that if the price does not fall below the support level, you can consider entering the market to arrange long orders. Combined with the suggestions in the real-time strategy, the entry point near 2216 was also proposed. In the evening, based on the market trend, I further gave suggestions in the real-time strategy that when the price rebounds to around 2255, you can enter the market to arrange short orders.
For today's operation strategy, we need to pay close attention to market dynamics. If the market continues to rebound, pay attention to the suppression near 2255. It is not ruled out that the price will encounter resistance at this position and fall back. If the price falls below the support near 2196, it may further drop to around 2165.
Ethereum market dynamics: Yesterday's market showed a cross star pattern, suggesting that the market is indecisive. Despite the rebound, it did not break through the previous high. Currently, Ethereum is facing pressure from the first two large negative lines. If the rebound strength cannot reach half of the large negative line, combined with the obvious downward trend on the weekly chart and the downward trend of technical indicators, the overall market is still biased towards the short side. It is expected that there will be a step-back action in the early morning this morning to test the support near 2195, but it is unlikely to fall below the previous low. After many days of decline, the market may enter a period of shock adjustment. Investors need to pay close attention to the support strength near 2165, and pay attention to the suppression near 2285. In the short term, the market direction is still unclear, and more information and data are needed to guide the direction.
4-hour technical analysis:
On the 4-hour chart of the most recent trading day, Ethereum's market showed a trend of shock repair. In the evening, the price rebounded to a high of around 2265, but fell back under obvious pressure. In the early hours of the morning, the market received support at the Fibonacci retracement line of 0.618 and began to rebound. However, the rebound was suppressed near 2240 at the Fibonacci retracement line of 0.236, causing the price to fall again.
From the technical indicators, MACD formed a golden cross, indicating that the market has a certain upward momentum. However, this momentum is suppressed by the 10-day moving average above, suggesting that the market has a large upward pressure. Other technical indicators also show a downward trend, which may have a negative impact on future market conditions.
It is expected that today's market will continue the shock and repair trend of the previous trading day. If the market does not fall below the support level below, you can still consider entering the market to arrange long orders. At the same time, pay attention to the suppression near 2240. Once this position is broken, it is expected to rise further.
Operational suggestions: given in real-time strategy
