1h/Line Chart ETH
As can be seen from the chart, after ETH rose to a high of 3524.16 USDT recently, it has experienced a certain correction and the current price is around 3504.82 USDT.
In terms of K-line patterns, the correction is small and the overall upward trend remains intact.
Moving average analysis
Short-term moving average (5-day moving average): The current price is above the 5-day moving average (3388.72 USDT), and the short-term moving average is upward, providing support for the price.
Medium-term moving average (10-day moving average): The 10-day moving average (3380.09 USDT) also remains upward, indicating that the medium-term upward trend is still strong.
Long-term moving average (30-day moving average): The 30-day moving average (3338.81 USDT) is also pointing upward, indicating that the long-term trend remains positive.
Support and Resistance
Resistance: The previous high of 3524.16 USDT is the main resistance level in the near term. If this price can be broken, the price is expected to continue to rise.
Support level: The current important support levels are around 3400 USDT and 3350 USDT. If the price pulls back to these levels and gets support, it means that the upward trend is still valid.
Volume Analysis
The volume has increased significantly during the rise, indicating high market participation and increased investor interest in ETH. The current volume has decreased, indicating that the market is waiting for further direction confirmation.
Future Trends Prediction
In the short term
Oscillating adjustment: In the short term, the price may fluctuate between 3400 USDT and 3524.16 USDT. The market needs to digest the previous profit-taking in this area and find a new direction.
Upside potential: If the price can stabilize above 3400 USDT and the trading volume increases again, it is expected to rise to 3524.16 USDT again, or even higher.
Medium to long term
Trend remains: As long as the price remains above the 5-day and 10-day moving averages, the overall upward trend will not change. In the next few weeks, the price is expected to challenge the previous high of 3524.16 USDT, or even break through to a new high.
Operational Details
Buying strategy
Buy on dips: If the price pulls back to the 5-day moving average (3388.72 USDT) and gets support, you can consider buying on dips.
Breakout Buy: If the price breaks through 3524.16 USDT and the trading volume is significantly enlarged, you can follow the trend and buy after the breakthrough.
Selling strategy
Short-term profit taking: If the price encounters resistance near 3524.16 USDT, you can consider partial profit taking.
Stop loss strategy: If the price falls below 3400 USDT, it is recommended to set a stop loss to prevent losses from further declines.
