ETH K-line chart and technical indicator analysis
From the 4-hour chart
 

Technical Analysis:

Moving Average (MA):

  • From the 1-hour chart, the MA moving averages (5, 10, 20) show that the price is in a bullish arrangement in a shorter period. Although the fluctuations are large, the overall trend is upward. This indicates that the market has a strong short-term bullish sentiment.
     

Bollinger Bands (BOLL):

  • The upper and middle Bollinger bands are closer to the current price, which means that the ETH price is in a relatively strong area, but there is still the possibility of fluctuations. If the price breaks through the upper Bollinger band, it may continue to rise; otherwise, it will pull back to the middle band.

Key pressure and support levels:

  • The first support level: 2580-2600 (close to the middle track of the Bollinger Band and MA10 support)

  • Second support level: 2520-2540 (previous low and strong support range)

  • Pressure level: 2660-2680 (Bollinger Band upper rail and previous high point)

  • If the price breaks above 2660, it is expected to further challenge the strong resistance zone of 2720-2740.

Today's forecast and operation suggestions:

Long operation:

  • If the price remains above the 2600-2620 range and the MA5 line in the 1-hour chart continues to move upward, you can consider opening long positions in batches in this area, with the target at 2660-2680 and the take-profit set near this range.

  • The stop loss can be set below 2560 to prevent unexpected price pullbacks.

Short Operation:

  • If the price encounters obvious resistance near 2660 and fails to break through, and the K-line shows a top signal (such as a long upper shadow or a large black candlestick), you can try to arrange a short-term short order, with the target looking at the 2580-2600 support area, take profit within this range, and set the stop loss above 2700

Risk Management:

  • Take-profit level: long positions are around 2660-2680, short positions are around 2580-2600.

  • Stop loss: long orders below 2560, short orders above 2700.

Yesterday's trend review:

Judging from yesterday's candlestick chart, ETH fluctuated greatly in the range of 2630-2640. In the short term, it rose under the dominance of bulls, but began to pull back after encountering the pressure level of 2660. This is consistent with the pullback point we predicted. Today, we should focus on whether the price can break through the resistance level of 2660 again. If it can break through effectively, ETH is expected to challenge 2720 upwards.

Today's direction suggestions:

In the short term, we are bullish. We suggest to gradually build positions based on the 2620-2640 support area. If the price breaks through 2660, we can further increase our bullish positions. If the price shows a significant correction, we can consider a short strategy.
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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