ETH
From the 4-hour candlestick chart above, Ethereum (ETH) has shown obvious pullback pressure in recent trends. The current price is around $2,275, which has fallen below the previous support level. Combined with the current technical analysis, ETH's trend today may continue to maintain downward pressure, but it is necessary to pay close attention to the support level and rebound strength below.
Analysis of key technical indicators:
Moving average system (MA5, MA10, MA30):
MA5 (2455.65) formed a clear downward crossover with MA10 (2475.34) and MA30 (2505.25), which shows that prices are under great pressure in the short term and the overall market sentiment is bearish.
EMA (7 days) is also showing a downward trend, which strengthens the short-term bearish signal.
K-line pattern:
The current K-line has shown two consecutive large negative lines, indicating a relatively strong selling pressure. Yesterday's rebound did not form an effective breakthrough, suggesting that the market's bullish power is insufficient.
The lowest point of $2,150 formed in early September can serve as a key support level. If the market continues to decline, this point may become a key area for stopping the decline and rebounding.
Volume:
There has not been a significant increase in trading volume, which suggests that the selling pressure in the market has not increased significantly and funds remain cautious in a wait-and-see mood.
Today's forecast:
The first support level: $2,200. This position is an important support area before the last rebound. If ETH touches this position and shows signs of rebound, you can consider short-term long positions.
The second support level: $2150. If $2200 is lost, $2150 will be the next important line of defense, which is also the lowest point support in the early stage and has a strong psychological effect.
Resistance level: $2350. If the price can successfully rebound above $2350, it means that the short-term rebound is effective and the market is expected to further test the 2400-2450 area.
Risk control suggestions:
Stop loss: If the price falls below $2,150 and there is no obvious sign of rebound, it is recommended to strictly stop loss and exit to prevent further callback risks.
Operation suggestions:
Radicals: If ETH stabilizes around $2,200 and shows signs of rebound, you can try long orders with a light position, set the stop loss at $2,150, and target $2,350.
Conservative investors: We recommend waiting for ETH to fall below $2,150 and then observing market sentiment. If the downward trend fails and the price rebounds above $2,200, we can intervene. The stop loss is controlled at $2,150 and the target is $2,350.
Currently, ETH is near the key support level, market sentiment is relatively cautious, and downward pressure still exists in the short term. Reasonable position management and risk control are crucial. Investors are advised to remain calm and not blindly chase ups and downs.
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