The current ETH price is 3354.64. Observing from the 4-hour K-line chart, the price has rebounded from the previous low of 3100.00 and is currently in a range of oscillation between MA7 (3410.03) and MA30 (3607.56) moving averages. Overall, it is still in a downward trend, but there is a possibility of a short-term rebound.
Moving Average System: The short-term MA7 has crossed below MA30, forming a death cross, indicating a bearish short-term trend. MA100 (3803.25) is far above the current price, indicating that the overall trend is still under bearish control. The current price fluctuates in the range of 3300-3400, with certain support, but a breakthrough of the upper pressure at 3410 still requires further momentum.
K-line Pattern: A small ascending channel formed from the low point of 3100.00, currently entering a consolidation phase. The appearance of a long lower shadow indicates that there is some buying support below, and there is a possibility of a short-term rebound.
RSI: Positioned between 40-50, showing a neutral market sentiment.
MACD: The green bars are shortening, but the fast and slow lines are still below the zero axis, indicating that the bearish strength has weakened but has not completely reversed.
Trading Volume Analysis: The trading volume has not significantly increased during the rebound, indicating that market sentiment is cautious, and funds have not entered on a large scale.
Today's Operation Suggestions
Direction: Short-term bullish, focus on the strength of the rebound (pressure above 3400 is significant)
Opening Position: 3300-3350 (light long positions in the pullback support range)
First Take Profit Level: 3500 (short-term pressure level above)
Second Take Profit Level: 3600 (resistance near MA30)
Stop Loss Level: 3200 (stop loss if it breaks support)
If the price stabilizes after testing the 3300 support, bulls may attempt to reach 3500 or even 3600.
3500 is an important short-term resistance level, and once broken, it may further challenge 3600.
Yesterday's Situation: ETH price rebounded from the low of 3100, the short-term trend has recovered, but the pressure above remains strong.
Today's Prediction: If it can hold above 3350 and break 3400, the short-term target can be set at 3500. If it fails to break 3400, it may continue to test the 3300 support range.
Upper Pressure Risk: The resistance in the 3400 and 3500 areas is strong, and a breakthrough requires significant trading volume.
Callback Risk: If it falls below 3300, it may test the previous low of 3100 again.
Sudden News Risk: External market or policy news may trigger short-term volatility.
Currently, ETH is in the early stage of a rebound, bearish strength has weakened, but the resistance above is strong. It is recommended to test with light positions and strictly implement the take profit and stop loss strategy. At the same time, closely monitor changes in trading volume and fluctuations in external market sentiment.
