Yesterday's Market Review

ETH experienced some consolidation yesterday, facing resistance near $3730 and failed to break further upwards. It dipped to a low of $3642 but received strong support at this level, ultimately closing around $3670. Overall, ETH's performance yesterday still showed a bullish consolidation pattern, indicating that the market's bullish strength is relatively strong, but has not fully broken through important resistance zones.

Today's Market Analysis

1. Moving Average System

Short-Term Moving Average (MA7): Currently supporting near $3670, indicating that there is still room for a rebound in the short term.

Medium-Term Moving Average (MA30): Located at $3650, providing a relatively solid support range.

Long-Term Moving Average (MA100): Currently running at $3580, which is ETH's long-term support area.

2. Bollinger Bands

The middle track of the Bollinger Bands is at $3670, with upper pressure at $3740 and lower support at $3600. The price is close to the middle track area, showing a volatile trend. If it breaks through the upper track, it may further rise to $3800; if it falls below the lower track, it may retest the area around $3600.

3. MACD

MACD Indicator: Currently, the MACD remains above the zero line, with the red bars increasing, indicating that bullish strength is continuing to strengthen. The DIF and DEA lines have formed a golden cross, showing that ETH still has upward potential in the short term, but one must be wary of the risk of a pullback.

MACD Histogram: Showing an increasing state, indicating strong market momentum.

4. RSI

RSI Indicator: The current RSI is at 65, not yet in the overbought zone, still having some room for upward movement. However, approaching the 70 area requires caution regarding possible overbought risks, and close attention should be paid to price movement changes.

5. Support and Resistance Levels

Support Levels: $3620 (Bollinger Band Lower Boundary), $3600 (previous low).

Resistance Levels: $3740 (Bollinger Band Upper Boundary), $3780 (previous high).

Today's Operation Suggestions

1. Long Position Strategy

Entry Range: $3650-$3670

First Take-Profit Level: $3740 (Bollinger Band Upper Boundary)

Second Take-Profit Level: $3780 (previous high)

Stop-Loss Level: $3600

2. Short Position Strategy

Entry Range: $3740-$3760

First Take-Profit Level: $3650

Second Take-Profit Level: $3600

Stop-Loss Level: $3800

Understanding market rhythm is the beginning of wealth management! Follow Old Tan, position in advance, and let the next peak belong to your account! Pay attention to Old Tan, and never let opportunities slip away!
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