Last night, Ethereum surged to $3,850 after 8:30 p.m., reaching the preset short position range of $3,830-3,850, and successfully stopped loss at $3,880, with the target points of $3,795-3,755-3,715. Although the third target point was not fully reached in the end, it still perfectly gained more than 100 points of profit! Yesterday's positive news mainly came from PCE data, while the negative news happened to be realized after the opening of the U.S. stock market.
Ethereum Market Analysis
From the 1-hour chart, the market rebounded after touching the bottom support of the trend channel last night. The price has now broken through the top EMA80 moving average and continues to move upward. The KDJ indicator shows that the three-line pattern has just begun to form a cross-up, and the current J value is below 50, which indicates that there is still a lot of room to go. In the MACD indicator, the volume above the 0 axis continues to increase, and the DIF turns upward again after approaching the DEA, rebounding at the $3,700 mark, and continues to spread upward away from the DEA.
Recommendations
Short-term strategy
Long: If the price continues to run above the $3,700 mark, you can consider placing long orders in the $3,700-3,720 range, with a stop loss below $3,670 and a target of $3,780-3,800-3,850.
Short selling: When the price approaches or breaks through $3,850, it is recommended to place short orders in the $3,830-3,850 range, with a stop loss above $3,880 and a target of $3,795-3,755-3,715.
Technical indicators
KDJ indicator: three lines cross upward, and the J value is below 50, indicating sufficient upside space.
MACD indicator: The volume above the 0 axis increases, and the DIF and DEA are widening the gap, indicating that the bullish force is strengthening.
Key support and resistance
Upper pressure: $3850, $3880
Support below: $3,700, $3,670
Summarize
Ethereum currently rebounded after receiving support at the bottom of the trend channel and broke through the EMA80 moving average. Technical indicators show that there is sufficient upward momentum. According to the market trend and technical analysis, it is recommended to arrange long orders in the range of 3700-3720 US dollars and short orders in the range of 3830-3850 US dollars. Pay attention to strictly set stop losses and maintain flexible operations to cope with market fluctuations.
Through the above analysis and suggestions, I hope you can make steady profits in Ethereum transactions.
Last night, Ethereum surged to $3,850 after 8:30 p.m., reaching the preset short position range of $3,830-3,850, and successfully stopped loss at $3,880, with the target points of $3,795-3,755-3,715. Although the third target point was not fully reached in the end, it still perfectly gained more than 100 points of profit! Yesterday's positive news mainly came from PCE data, while the negative news happened to be realized after the opening of the U.S. stock market.
Ethereum Market Analysis
From the 4-hour chart, the price of the currency rebounded at the bottom trend support line, and the current price has stood above the EMA30 moving average. The next thing to pay attention to is whether this 4-hour can stabilize. The EMA10 and EMA15 moving averages below are moving upward. If they can successfully cross the EMA30 moving average, the price of the currency is expected to break through $3,850 again.
KDJ indicator shows that the three lines are also moving upwards, MACD is about to close successfully below the 0 axis, and DIF and DEA overlap. If the current 4-hour golden cross phenomenon can be formed, then the volume will begin to increase above the 0 axis, and the bulls will continue again. On the contrary, it may fall again after a short surge.
Recommendations
Short-term strategy
Long: If the price continues to run above the $3,700 mark, you can consider placing long orders in the $3,700-3,720 range, with a stop loss below $3,670 and a target of $3,780-3,800-3,850.
Short selling: When the price approaches or breaks through $3,850, it is recommended to place short orders in the $3,830-3,850 range, with a stop loss above $3,880 and a target of $3,795-3,755-3,715.
Technical indicators
KDJ indicator: three lines cross upward, indicating sufficient upside space.
MACD indicator: The volume is about to close successfully below the 0 axis, DIF and DEA overlap, pay attention to whether a golden cross is formed. Once formed, the volume will start to increase above the zero axis and the bullish trend will continue again.
Key support and resistance
Upper pressure: $3850, $3880
Support below: $3,700, $3,670
Summarize
Ethereum currently rebounded after receiving support at the bottom of the trend channel and broke through the EMA30 moving average. Technical indicators show sufficient upward momentum. According to market trends and technical analysis, it is recommended to place long orders in the range of 3700-3720 US dollars and short orders in the range of 3830-3850 US dollars. Pay attention to strictly set stop losses and maintain flexible operations to cope with market fluctuations.
If you are stuck, you can consult the blogger for professional help! If you are not sure about the market, you can come to the community for accurate points every day.
K-line is king, trend is emperor. We have been focusing on BTC and ETH spot contracts for many years. There is no 100% method, only 100% following the trend. We update macro articles and technical explanations on the entire network every day!