Market Analysis
Today, Ethereum (ETH) successfully closed the short position near 3150 the day before, with a profit of more than 100 points. Currently, the short position is waiting for a new entry opportunity. From the daily chart, 4-hour chart and 1-hour chart, the overall trend and key points of Ethereum are as follows:
Daily chart analysis
Judging from the daily chart, Ethereum is currently showing a volatile trend. The price is running near 3157, under pressure in this area, and the consolidation trend is significant. Support has moved up to the 3045 position, and the current price is fluctuating around 3115. The support at the daily level is strong, and there are obvious signs of bullish reversal at the overall bottom. Therefore, the market outlook needs to focus on the suppression area of 3175 and whether the intraday rebound can effectively break through.
Four-hour chart analysis
From the four-hour chart, the overall Bollinger Bands began to close, and the price was under pressure and fluctuated near the middle track. The key upper suppression area is around 3170, and the lower support area is 3040-3050. In the short term, Ethereum is likely to consolidate in this range, and the price fluctuation range will be narrowed. If it can successfully break through the suppression area of 3130 in the short term, there will be a chance to further explore the 3150 position.
One hour chart analysis
From the one-hour chart, the trend is under pressure and then fluctuates around the EMA5 moving average. The long and short sides are currently in a stalemate, and the short-term trend is correcting and consolidating. Before the effective breakout, it is recommended to maintain the range operation strategy, mainly high-short and low-long.
Recommendations
Short-term operation:
Short order strategy:
Enter a short position when it rebounds to around 3140-3170. If the price rises to 3250, cover the short position. Set the stop loss around 3290 and the take profit target around 3080-3050. If the price falls below 3040, continue to hold the short position.
Long order strategy:
Enter the market with a light long position near the 3000 mark. If the price pulls back to around 3030-3060, consider adding long positions. Set the take-profit target above 3130 and the stop loss at 3000.
Please pay close attention to market trends, adjust operating strategies in a timely manner, and pay attention to risk control.
