Ethereum is currently priced at 2595. It is now 2:00 p.m. Beijing time. Let's review yesterday's Ethereum thinking. After the previous high of 2520 was lost, 2540 was followed by longs. The target of 2650 has been reached. The next target of 2700 needs to be reached after a retracement. From the market point of view, the short-term trading volume is not enough to support Ethereum to 2700. It can only continue to wait for a retracement to have momentum.
Looking at the market, the daily K-line has continuously stretched and broken the EMA15, 30 and 60 trend pressure levels, and is now hitting the EMA90 pressure level of 2660. After breaking it, the next pressure level will be 2734. MACD has increased its volume and DIF has stood on the 0 axis and formed a polarization with DEA. In this case, the consolidation will end only after the polarization ends. The upper rail pressure level of the Bollinger Band is 2725, and the middle rail 2500 can be used as a reference for the time being. KDJ has encountered obvious resistance in its upward diffusion. It can be seen that it is difficult to break the EMA90 trend pressure level in the short term. If it is broken, it will be a one-sided situation, so the market trend is more inclined to high-level consolidation.
The four-hour K-line is continuously blocked at 2650, and has not fallen below 2600, giving people the illusion that 2600 is the support point. Draw the golden section line from the recent lowest point to the recent highest point to find the 0.618 support point near 2530. You can arrange more here. Don’t rush to chase more near 2620 for the time being. The EMA trend is still spreading upward in a net-like bullish trend, so the idea is to step back on the support. MACD is rising in volume, DIF and DEA are spreading upward at high levels, the K-line has returned to the Bollinger Band, and KDJ has begun to shrink downward. From the overall trend, short-term stepping back is a normal trend. It is unhealthy not to step on it, so wait for opportunities, signals, and the best entry point.
