Market Overview
The current price of Ethereum (ETH) is $3,081. The price recently rose to a high of $3,449 before falling back, showing the pressure of high profit-taking. The market bulls and bears are fighting fiercely at key positions. In the short term, ETH may fluctuate between support and resistance. The following is the technical analysis and operation suggestions of the daily, four-hour and one-hour lines.
Daily Line Analysis
On the daily chart, ETH price rebounded from a low in early November and climbed to a high of $3,449, but then fell back and is currently close to the support level of $3,080. The current price is above MA10 (3,084) and MA30 (2,730), and the moving average system shows a bullish arrangement, and the overall trend is still bullish.
The MACD indicator shows that the DIF line and the DEA line are running above the zero axis, and the momentum column is still positive, but it is beginning to shrink, indicating that the upward momentum is gradually weakening. The daily RSI indicator has fallen slightly, suggesting that the overbought state of the market in the short term has been released to a certain extent, and it is expected that there may be support near $3,080.
Four-hour line analysis
On the four-hour chart, ETH stabilized near $3,080 after falling from its high, and the MA10 moving average flattened, indicating that the short-term rally has temporarily slowed down. In the MACD indicator, the DIF line and the DEA line are running near the zero axis, and the momentum column is slightly weak, indicating that the short-term market sentiment is relatively cautious and the strength of the short side has increased.
The Bollinger Bands are gradually narrowing, and the price is fluctuating near the middle track, indicating that ETH may enter a consolidation pattern in the short term. If the price can hold the support level of $3,080, it is expected to maintain high fluctuations in the short term, but if it falls below, it may continue to fall to the lower support level near $3,000.
One-hour line analysis
On the one-hour chart, ETH shows signs of stabilization in the short term after continuous corrections. The current price fluctuates near the MA5 and MA10 moving averages, and the market is temporarily in a wait-and-see mood. The MACD indicator shows that the DIF line and the DEA line are glued together below the zero axis, and the momentum column is weakening, indicating that the short-term market is in a stalemate between long and short positions.
The RSI indicator returned to the neutral zone, indicating that the market forces are relatively balanced in the short term. If the price continues to rise, pay attention to the resistance at $3,100. If it breaks through this level, it is expected to further rise to $3,150; if it falls below $3,080, it may fall to the support level of $3,050.
Recommendations
Short-term trading: It is recommended to try long orders with a light position near US$3,080, with a stop loss set below US$3,050. If the rebound target is to look at the US$3,100-3,150 range.
Conservative strategy: If the price steadily breaks through $3,100 and stabilizes, you can consider adding long positions, with the target above $3,150. However, if it falls below $3,080, you should stop loss and exit the market to avoid further callback risks.
Risk control: Ethereum is currently in a high-level oscillation range, and there is still a risk of short-term correction. It is recommended to control positions in operations and avoid over-trading when volatility intensifies to prevent losses caused by sudden market corrections.
Summarize
Ethereum is facing profit-taking pressure at high levels, and may fluctuate around the support level of $3,080 in the short term. We should be cautious in our bullish view, and it is recommended to pay attention to key support and resistance levels, control positions reasonably, and avoid chasing ups and downs.
