ETH Ethereum is currently showing an overall structural trend of decline. The key technical indicators of each time period are as follows:
Weekly candlestick chart:
Focus on the support level near the MA30 moving average, which may be used as a potential bottom position for opening positions. The support level below is near MA200. If the price falls back here, you can consider opening a position.
Daily chart:
The support level below the structure is near MA200, which is an important price rebound point. If the price falls back to the MA200 level, you can consider opening a position. MACD shows an increase in shorts and forms a dead cross, suggesting that the market may continue to fall.
Four-hour chart:
The top pressure is near the MA7 moving average, which is an important resistance area. If the price fails to break through the MA7 moving average when testing upward, you can consider taking a short position here. MACD shows an increase in shorts, indicating that the short-term market atmosphere is biased towards shorts.
In summary, in the short term, you can consider taking long positions near 3108-3060, and the expected rebound target is near 3200-3280. If the price rebounds to around 3280 but fails to break through, you can consider shorting at this level, with the target around 3230-3185. During the operation, pay close attention to the changes in the key moving average and MACD indicators, as well as the performance of the price at various support and resistance levels, and choose the right time to buy and sell
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