Market Review
Ethereum still remains in the downward range on the daily chart, and the pressure above 3480 has initially formed.
technical analysis
Daily chart
Downward range: The price is still running in the downward channel, and the upper 3480 forms initial suppression.
Four-hour chart
Range oscillation: Pay attention to the continuation of the 3500-3320 range oscillation over the weekend, and focus on the price trend within this range.
One-hour chart
Bollinger Bands: The price moves in the Bollinger Bands oscillation.
Top and bottom conversion: The 3410 line clearly forms a top and bottom conversion suppression.
Short-term rebound: The price started a short-term rebound after hitting the bottom of 3360. It is currently running at 3390. Pay attention to whether 3400 can be successfully broken through and stabilize.
Recommendations
Robust Strategy
Short on rebound: Place short orders in the 3480-3500 range, target 3320, and set stop loss at 3520.
Aggressive Strategy
Short-term operation: If the price rebounds to 3400 and does not break through, you can consider short-term short selling, with the target at 3360 and the stop loss at 3420.
Summarize
Ethereum is still in a volatile downward channel in the short term. Investors are advised to place short orders at key resistance levels to ensure the robustness and effectiveness of trading strategies. Conservative investors can place short orders at high resistance levels, while aggressive investors can focus on short-term rebound opportunities and flexibly adjust their operating strategies.
