The daily chart shows a long bullish candle with short upper and lower shadows, and the trading volume is three-quarters of the previous day, showing a strong upward trend.
The daily MA30 line has already turned upwards, and the MACD is forming a golden cross of the fast and slow lines near the zero axis, indicating an increase in upward momentum.
After Ethereum has been weak for so long, the energy of the explosion is very strong. We have been saying this in our previous market reviews: the longer the consolidation time, the stronger the rise will be.
After the price briefly broke 2900 in the early hours of today, it formed a small-level downward pullback trend. Currently, as long as Bitcoin maintains a high-level consolidation without falling, Ethereum still has further upward space, at least to test the integer level of $3000.
2960 is the current position of the weekly MA30 line, so after a high surge, it is likely to fall back to around 2760 for consolidation.
Ethereum also does not exhibit a trend of plummeting, so there is no need to worry.
Daily level resistance at 3060-3270-3535-3640, support at 2760-2570-2350-2260-2150.
From the hourly level, it is currently showing a 15-30 minute level rebound with a top divergence pattern, short-term longs can be made at 2817 and 2760, and shorts at 3000.
From the three-day clearing heat map,
Price is rising, with a large number of large short positions waiting to be cleared in the 2920-3000 area.
Price is falling, with a large number of large long positions waiting to be cleared in the 2860-2480 area.
