From the chart, it can be seen that Ethereum (ETH) has shown strong performance in recent days, starting from the low point of 2356 in early November, continuously rising along the moving averages. It peaked at 3688 yesterday and then pulled back to around 3635. Based on the current hourly candlestick pattern and trading volume, the bullish trend has not completely ended, but there is a need for a short-term pullback and adjustment.
Key Technical Analysis:
Moving Average System:
MA5 (2908) and MA10 (2901) are both in a bullish alignment, with short-term trends still maintaining strong support.
MA30 (2853) has a steep upward angle, providing strong support for the current medium-term upward trend.
Trading Volume Observation:
Yesterday ETH saw increased volume at highs, but trading volume began to shrink early today, indicating a gradual strengthening of market wait-and-see sentiment.
If effective volume is not achieved subsequently, ETH may continue to oscillate within the 3600-3700 range.
Support and Resistance Levels:
First Support Level: 3550 (an important stop-loss point during the previous rise).
Second Support Level: 3480 (the top of the previous consolidation area).
Resistance Level: 3700 (near yesterday's high), if broken, then attention should be paid to the 3750-3800 range above.
Today's ETH Trend Prediction:
Based on current technical indicators and market sentiment, ETH is expected to maintain a strong oscillating trend today. If it can hold the support at 3550 with increased volume, the price is likely to break through 3700 to challenge higher levels; if it falls below 3550, attention should be paid to the 3480 support area.
Today's Operation Strategy:
Short-term Strategy:
Entry Point: Gradually accumulate in the 3600-3620 range, targeting the 3700-3750 range.
First Take-Profit Level: 3700
Second Take-Profit Level: 3750
Stop-Loss Level: 3540 (if broken, quick stop-loss is needed to avoid pullback risks).
Swing Strategy:
If the price retraces to the 3480-3500 range, positions can be added in batches, with stop-loss set at 3440, targeting the same 3700-3750 range.
The recent upward trend of ETH has not changed, but there is a higher probability of oscillation at short-term highs. Today's operation should focus on defensive counterattacks to avoid the risk of pullbacks caused by chasing highs. A steady layout above 3600, with reasonable take-profit and stop-loss levels set, is recommended while waiting for further bullish breakthrough signals. If it can effectively break through 3700, ETH has the opportunity to surge to higher levels; if it retraces to the 3480 support, it presents a good buying opportunity.
As a market barometer, ETH has strong structural opportunities under the current bullish sentiment, but investors should pay attention to the overall market sentiment and capital flow, and must not blindly chase rises.
Uncle Qian has been deeply involved in the cryptocurrency space for many years, and I fully understand the preciousness and volatility of market opportunities. To help everyone seize every opportunity in this rapidly changing market, Uncle Qian will continue to provide you with the latest market analysis and professional trading strategies.
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