📣Ethereum has been in a prolonged slump, continuously building momentum. Will the market continue to rebound?📈
Recently, Ethereum news has been very active, with BlackRock's Ethereum ETF holdings surpassing 470,000 ETH, increasing market recognition of Ethereum. Currently, the trend is following Bitcoin's rise. Historically, when Bitcoin broke 70,000, Ethereum's trend was around 4,000. However, Ethereum has yet to reach the 3,000 mark. From the current price chart, there is still significant room for Ethereum to rebound!
【Analysis of Ethereum Price Trend Over Four Hours】
K-Line Pattern:
Recently, the K-line has shown a clear upward trend, especially since November 6, where the price quickly surged from 2,421.41 to 2,921.79. In the four-hour cycle, multiple bullish candles have appeared consecutively, indicating strong buying power.
Technical Indicators:
MACD: In the four-hour cycle, the MACD histogram has consistently remained positive and is gradually increasing, with the DIF line crossing above the DEA line, indicating that the current market is in a bullish trend.
RSI: The RSI value is close to 80, entering the overbought zone, but has not yet pulled back, showing a strong upward trend.
EMA: The price is above EMA7, EMA30, and EMA120, with short-term moving averages diverging upwards, further confirming the rising trend.
Trading Volume:
From November 6 to 8, trading volume significantly increased, especially when the price broke through key resistance levels, indicating active capital inflow. As the price rises, trading volume remains high, supporting the current upward momentum.
Evening of 11/8 Ethereum Short-term Profit Strategy:
It is recommended to enter long positions near 2,900-2,890 for Ethereum, with short-term profit points at 2,940-2,960. If the trend continues to rebound, the target point is above 3,000!
If there is a pullback, it is recommended to add long positions near 2,860, with target points at 2,930-2,960.
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