Based on the technical analysis of the Ethereum (ETH) 4-hour candlestick chart you provided, I will combine yesterday's market performance to predict today's trend and provide reasonable support and resistance levels and operation suggestions.

ETH experienced a significant decline in early October, falling from a high of 2727 points to around 2350 points, and then began to rebound on October 8, and the current price is around 2455 points. This shows that the bulls are gradually exerting their strength, especially at the support level of 2400 points.

Technical Analysis

  • Moving average system (MA5, MA10, MA30):
    The current price is running above MA5 and MA10, indicating that the price may rebound further in the short term. MA30 forms pressure around 2480 points, and the price may encounter resistance in the short term.

  • Bollinger Bands (BOLL):
    The price is currently running above the middle track of the Bollinger Bands and has a tendency to break upward. The upper track is around 2510 points. If the price can successfully break through this position, it is expected to further rise to around 2550 points. The middle track is around 2430 points, which is a strong short-term support level.

  • KDJ indicator:
    The three KDJ lines are currently glued together near 50, and are expected to form a golden cross, indicating that the market has a rebound momentum in the short term, but the coordination of trading volume needs to be observed. If the golden cross can be formed, the price is expected to test the pressure level of 2500 points.

  • MACD indicator:
    The MACD fast and slow lines are glued together below the 0 axis, and the green column kinetic energy has obviously weakened, indicating that the short-selling force is weakening, the market may gradually stabilize, and a rebound may occur in the short term. The appearance of the red column will further confirm the strength of the bulls.

  • Volume:
    Yesterday's rebound was accompanied by an increase in trading volume, indicating that the market has certain buying support near 2450 points. If today's trading volume can be further enlarged, the price is expected to break through the upper pressure level.

Recommendations
If the price falls back to 2430 points and stabilizes, you can consider going long with a light position, with the target at 2500 points, and the stop loss is set below 2380 points. If the price can effectively break through 2500 points, you can consider reducing some positions and continue to hold the remaining positions, with the target at 2550 points.

Trend Forecast

Combined with the current technical analysis, ETH is likely to fluctuate in the range of 2430-2500 points today. If the trading volume can be effectively enlarged, the price is expected to break through 2500 points and further test the pressure level of 2550 points. If the trading volume cannot be enlarged, the price may fluctuate and adjust repeatedly around 2430 points. The overall trend is still biased towards a short-term rebound.

ETH has strong support near 2400 points and showed a certain bullish force in yesterday's rebound. Today, we need to pay close attention to the support of 2430 points and the breakthrough of 2500 points. It is recommended to focus on short-term trading. Conservatives can lightly position near the support level, while aggressive ones can increase their positions after breaking through the pressure level.

The overall direction is optimistic about a short-term rebound, but risks need to be carefully controlled, especially the setting of stop losses.


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