ETH 4-hour candlestick chart, we can clearly see the recent fluctuation range of ETH, trend changes, and the feedback from technical indicators. Below is the technical analysis and operational suggestions based on the data.
Yesterday's market review
Yesterday, ETH started to oscillate around 3400 points, briefly breaking through 3500 points but faced resistance, reaching a maximum of 3549 points before falling back to around 3448 points, forming a clear oscillation range.
The trading volume has slightly increased, but there has not been a sustained increase, indicating that the market still lacks a clear direction between 3400 and 3550 points.
Current technical structure
Short cycle (1-hour chart)
Moving average system:
The MA5 and MA10 moving averages formed a dead cross last night, indicating a weak short-term trend.
The MA30 moving average (3079 points) is in a consolidation center, with prices still fluctuating around it.
Oscillation range:
The upper resistance level is at 3500 points, and breaking through it may challenge 3550 points or even higher.
The lower support level is at 3400 points; if it breaks below, it may further test 3350 points.
Medium cycle (4-hour chart)
Bollinger Bands:
The upper Bollinger Band is at 3550 points, and the lower band is at 3350 points, with ETH's current price oscillating around the middle band at 3448 points.
If it can hold the middle band, there will be an opportunity to test the upper Bollinger Band upwards.
KDJ indicator:
The candlestick indicator is at a low level and is about to form a golden cross, indicating that a rebound may come in the short term.
MACD indicator:
The red bars are gradually shrinking, but the DIF line and DEA line are still above the zero axis, indicating that the bullish trend has not been completely damaged.
Long cycle (daily chart)
The ETH daily chart is still in an upward channel overall, but it has entered a high-level oscillation in the short term, possibly needing further adjustments to confirm support.
If it can hold the 3400 point support and rebound with volume, the daily upward trend is expected to continue.
Today's trend forecast
Based on candlestick patterns and technical indicators, ETH is likely to oscillate in the range of 3400-3500 points in the short term, with specific key point predictions as follows:
First support level: 3400 points
ETH bulls need to hold this position; a break below will test 3350 points.
Second support level: 3350 points
If this level is broken, the market may further fall back to 3200 points.
Resistance level: 3500 points
The short-term bullish target is to break through this position; once stable, it can look towards 3550 points.
Stop loss level: 3330 points
If this point is lost today, it indicates that bears are dominant, and quick stop loss should be executed.
Operational suggestions
Short-term strategy
Aggressive investors
Entry range: Lightly enter positions near 3400-3420 points, targeting 3500 points, with a stop loss set at 3330 points.
In the short term, pay attention to the rebound volume; if there is stagnation around 3500 points, it is recommended to quickly take profits.
Conservative investors
Entry range: Wait for confirmation of support at 3350 points before gradually entering, targeting 3500-3550 points, with a stop loss set below 3300 points.
Medium-term strategy
If ETH can hold above 3400 points today and break through 3500 points, consider adding positions when it retraces to 3450 points, with a target towards 3600 points.
ETH's direction today is mainly a rebound within oscillation, but attention needs to be paid to the struggle for support and resistance positions:
In the short term, a rebound is expected around the 3400 point support, with a target of 3500 points; if it breaks through, it may further attack 3550 points.
If the 3400 point support is lost, a quick adjustment in thinking is needed, waiting for a reallocation opportunity around the 3350 point.
Key point: Hold above 3400 points, and bulls still hold the initiative.
Direction suggestion: Oscillation is biased towards bullish; short-term attempts to buy low and sell high can be made, but risk should be strictly controlled, paying attention to fluctuations within the 3400-3500 points range.
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