From the latest ETH 4-hour candlestick chart
ETH price opened at $2693.52 today and is currently running at $2701.83, close to today's high of $2727.66, showing some upward momentum, but at the same time, the upward pressure is gradually increasing. The following is a specific technical analysis:
Yesterday's Trend Review and Today's Expectations
Yesterday, the price of ETH rebounded from the low point and hit a high of $2,727, but failed to break through effectively. The price then fell back and showed a fluctuating upward trend in the morning trading today. Overall, ETH is still in an upward trend in the short term, but it may face greater pressure to fall back when approaching the upper resistance level.
It is expected that the price today will fluctuate in the range of US$2680-2727. If it fails to effectively break through US$2727 in the short term, it may be adjusted.
Moving average analysis:
EMA7 ($2678.76) and EMA30 ($2632.05) both showed an upward trend, indicating that it is still in an upward channel in the short term.
MA5 (US$2685.66) and MA10 (US$2665.25) are gradually approaching, and the short-term moving average arrangement is in a bullish state, indicating that the market's bullish sentiment is still strong and is expected to continue to rise after a short-term correction.
Bollinger Band Analysis:
The price is currently running above the middle track of the Bollinger Band and gradually approaching the upper track of $2,727.66. It may face pressure from the upper track in the short term, indicating that a pullback or shock adjustment is likely to occur.
The Bollinger Band channel is expanding, volatility is increasing, and there may be severe shocks in the short term.
MACD：
The MACD fast and slow lines continue the bullish pattern above the zero axis, and the red column continues to grow, indicating that bullish momentum is accumulating and prices have the momentum to rise further.
However, it should be noted that the growth rate of the MACD column has slowed down, and there may be some correction or consolidation in the short term.
RSI：
The RSI is currentlyAround 62, close to the overbought area, indicating that market sentiment is relatively optimistic, but we need to be wary of short-term correction pressure.
3. Operation strategyYou can enter the market with a light position in the $2680-2700 area, with the target at $2727 and the stop loss at $2650.
If the price breaks through $2,727, you can consider adding positions, with the target at $2,750 and the stop loss moving up to $2,680.
ETH is still in a short-term upward trend, with support at around $2,680 and resistance at $2,727. It may see a correction in the short term, and the overall operation is mainly based on buying low. Investors are advised to pay close attention to the breakthrough of the $2,727 resistance level. If it can be effectively broken, the market is expected to rise further to $2,750 or even higher.
3. Operation strategy
You can enter the market with a light position in the $2680-2700 area, with the target at $2727 and the stop loss at $2650.
If the price breaks through $2,727, you can consider adding positions, with the target at $2,750 and the stop loss moving up to $2,680.
Today's direction: Oscillating and consolidating, pay attention to the support of $2,680. If it pulls back to this level and stabilizes, you can still consider entering the market, with the goal of breaking through the resistance of $2,727.
The market is unpredictable and opportunities are fleeting. Only by paying close attention to every subtle change and seizing your own opportunities can you remain invincible in the ups and downs of the market. Are you ready today? Let's look forward to the wonderful performance of the market together!
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