The daily line is a large bullish candlestick with a short upper shadow and an amplitude exceeding 13%. The trading volume is more than three times that of the previous day, reaching the highest trading volume since August 5th, indicating a rise with volume.
The daily MA30 line has begun to turn upward, and the MACD shows a weakening downward trend near the zero axis. If today closes with a bullish candlestick, the MACD will show a golden cross between the fast and slow lines, and the price will continue to rise.
In our market commentary on the 5th, we already reminded everyone to pay attention to the appearance of Ethereum breaking through multiple lines with a bullish candlestick. When this pattern appears, it signifies that the counterattack for Ethereum has begun.
Currently, the price has reached the top area of the previous rises. Due to the large bullish candlestick at the daily level consuming a lot of bullish energy, there will be a short-term upward movement, and a sharp drop is unlikely. There will be a downward correction at a smaller level, and the correction is to facilitate a better rise. We look forward to Ethereum's next upward movement.
Daily level resistance levels are 2855-3060-3290, and support levels are 2570-2350-2260-2150.
From the hourly level, the current trend is a 10-minute rebound that has formed a top divergence pattern.
In the short term, long positions can be taken at 2660, 2620, and 2585, and a short position can be taken at 2750.
From the three-day liquidation heatmap,
the price is rising, and there are still a small number of short positions waiting for liquidation near 2748-2788.
the price is falling, and there are still some short positions waiting for liquidation in the area of 2656-2616, while a large number of long positions are waiting for liquidation in the area of 2600-2496.
