From this chart, ETH's price trend, combined with moving averages (MA7, MA25, MA99) and volume indicators.
Here are some key points and investment advice:
1. Price is close to the moving average price is currently close to the MA99 line (blue line), which is usually a support line for a long-term trend. The price has not fallen below MA99, which may be a rebound signal, indicating a higher probability of rising in the short term. MA7 (short-term moving average) is running below MA25 (medium-term moving average), but the price is trying to break through. This situation indicates that market sentiment is weak in the short term, but there is a possibility of reversal.
2. The recent trading volume in the volume chart has increased compared to the previous one, but there is no significant fluctuation. This may mean that the market sentiment is relatively stable, but the subsequent changes in trading volume need to be closely observed. If the trading volume increases with the price breakthrough, it may be a buy signal; conversely, if the price rises but the trading volume is sluggish, it may indicate insufficient market momentum.
3. Support and resistance support level: The price has a significant rebound near 2524, indicating that there is strong support at this position. If the price pulls back to this area, you can consider increasing your position. Resistance level: The recent high is around 2702.82, which is a resistance level that needs to be broken in the short term. If the price breaks through and stabilizes, you can consider adding positions.
4. Investment advice Short-term strategy: You can observe whether the price breaks through the MA25 line (pink line). If it breaks through and is accompanied by an increase in trading volume, you can try to add positions in the short term, and the stop loss can be set below 2524. Medium- and long-term strategy: MA99 (blue line) indicates that the long-term trend is still rising. If you are a long-term investor, you can buy on dips when it approaches the MA99 line and hold until it reaches a higher resistance level before considering selling. In general, the current trend is relatively stable, but there is potential for growth in the short term. It is recommended to pay close attention to the breakthrough of trading volume and key moving averages.
