The price fluctuates around MA20 and MA60, further confirming that the short-term trend may be in a shock consolidation stage.
Daily Ethereum Technical Analysis
On the daily level, Ethereum received a negative line with a long lower shadow after three consecutive positive lines, showing that the shorts have some signs of strength. However, the bulls have not weakened significantly. Although there are signs of top divergence between MACD and K-line on the daily line, this has not affected the support level to move above 3800.
Short-term four-hour level analysis
On the four-hour level, the BOLL three lines began to close, indicating that the market may enter a relatively stable range. It is recommended to pay attention to the range of 3700-4000 during the day, which is a fluctuation range of 300 points. It is necessary to be vigilant about the serious wash-out operation that may occur in Ethereum in the future.
One-hour level analysis
On the one-hour level, the price is in a shock decline, and the highs are constantly moving down while the lows are also constantly moving down, forming a short-term downward channel. The short-term support level is recommended to pay attention to the 3780 line. Investors should pay close attention to the changes in this support level so as to make timely adjustments.
