Trading is against human nature.
Let's first look at $ETH Ethereum's weekly level. Currently, Ethereum's most recent resistance level is at the $4000 mark, and the nearest support level is at the $3000 price point. After breaking through 4000, the next resistance level would be 5000, but the pressure at $5000 is not significant; see the chart below.
Looking at the trading dense area in the upper left corner of the chart, you will find that after breaking through the $4000 mark, the pressure above will decrease! This is why I think Ethereum starting with 3 is really not expensive compared to the entire bull market!
Moreover, I believe this bull market will see Ethereum experience two significant surges. The first surge will reach around 5500, and the second will go up to around 7500! This is the price range I see for the entire bull market! Although I might sell everything around 7000 😂
One of the trading disciplines: do not guess bottoms or tops.
The MACD has just broken through the middle track, and the green momentum is gradually increasing! All three moving averages are trending upwards, which is bullish!
Then we look at the daily level.
At the daily level, there is an additional recent support (red arrow 1) at $3500, and the green trading momentum is gradually decreasing. The MACD is also forming a death cross, so in the short term, ETH may have a need for a pullback. If Ethereum pulls back, it may drop to around $3500 before breaking through again (red arrow 3). The bulls can enter in two batches: get in once now (to avoid missing out on a spike), and enter again near the pullback at 3500.
The yellow, blue, and purple moving averages all show a healthy upward bullish trend, overall bullish!
Finally, we look at the 4-hour level.
From the 4-hour level chart, we can see that Ethereum pulled back to near the blue 60 moving average after peaking at 3760, and then began to rise again, falling above the yellow 20 moving average.
From the chart above, the most recent small resistance level is at 3700. From the trading energy below, the bulls' strength is increasing, and the MACD's bearish red momentum is gradually decreasing. The yellow line seems to be about to cross above the blue line, forming a golden cross pattern.
So, considering the above levels, there may be a need for a short-term pullback. Everyone can consider entering near the strongest support position around the red short line at 3580, holding long-term is best, and for short-term high selling and low buying, you can take profits at 3750.
Finally, this is the situation for today $ETH . Everyone is welcome to discuss and learn together.
The road ahead is long, thank you for being with me! ❤️
