ETH price candlestick chart (1-hour line), combining technical analysis and yesterday's trends, offers reasonable predictions and strategy suggestions for today's market price:

  1. Candlestick and Moving Average Analysis:

    • Short-term Moving Averages (MA5, MA10): Both MA5 and MA10 are currently diverging upwards but show signs of gradual convergence, indicating weakening short-term upward momentum and a possible pullback.

    • Bollinger Bands (BOLL): The price touched the upper band at 3630 and then retreated, currently located in the middle to upper band range, indicating short-term upward pressure is limited, while the middle band provides some support.

    • Trend Analysis: ETH has continuously rebounded since early January, quickly rising from a low of 3100 to today's high of 3630. It has entered the overbought zone in the short term, with a higher probability of a pullback, but the overall bullish trend remains intact.

  2. Support and Resistance Levels:

    • First Support Level: 3550 (key short-term support, close to the middle band of the Bollinger Bands)

    • Second Support Level: 3450 (previous consolidation range upper edge, strong support)

    • First Resistance Level: 3630 (today's high point and near the upper band of the Bollinger Bands)

    • Second Resistance Level: 3700 (psychological round number and potential extension target)

  3. Yesterday's Trend Impact:
    Yesterday, the ETH price rapidly surged after breaking through 3500, indicating strong bullish sentiment. However, as the price approaches upper resistance, the market may enter a tug-of-war between long and short positions.

Operational Strategy Suggestions

  1. Long Position Strategy:

    • Entry Point: Range of 3550-3570, wait for a pullback to confirm support near the middle band of the Bollinger Bands before entering.

    • Take Profit Target:

      • First Take Profit Level: 3630 (short-term high point target)

      • Second Take Profit Level: 3700 (medium-term upward potential)

    • Stop Loss Setting: Below 3500, to control risk.

  2. Short Position Strategy (high risk):

    • If the price tests 3630 again but fails to break through, consider trying a light short position.

    • Take Profit Target: 3550 (short-term target)

    • Stop Loss Setting: Above 3650, strictly control risk.

  3. Wait-and-see Strategy:

    • If the price does not pull back to 3550 and directly surges above 3630, it is recommended to wait and follow long positions after confirming a breakout.

  • ETH has recently experienced significant volatility, requiring attention to the correlation effects with BTC.

  • If the price falls below 3500, it may trigger a larger-scale pullback, requiring timely strategy adjustments.

The ETH market today may experience a pullback followed by consolidation in the short term, with a focus on the breakout of the 3550 support and 3630 resistance. Investors are advised to flexibly adjust their positions and reasonably set take-profit and stop-loss levels to avoid risks associated with chasing highs.

Today's View: The bullish trend remains unchanged, but be wary of the risk of a high-level pullback. Is your strategy to follow steadily or to gamble aggressively? Feel free to share your thoughts!

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