Ethereum has not moved in a range-bound manner, but rather has formed a continuous two-day small positive line, creating a trend of oscillating upward. The MACD has returned from the high point to the zero axis, showing a weakening downward momentum.
At the daily level, this trend will continue to test the daily MA30 line's pressure level, with prices around 3690. Returning to this position will likely trigger a downward pullback. If the trend remains strong, there will be a short-term downward pullback at the hourly level, which will end quickly and continue to rise. If the trend is relatively weak, there will be a daily level pullback to the current price range for oscillating adjustments.
No matter how it moves, Ethereum has already led altcoins to a rebound in the market. As long as Ethereum continues to rise, altcoins will also continue to rebound.
Daily level pressure points: 3580-3680-3825-4200, support points: 3200-3020-2870
The hourly level trend shows a 4-hour pullback encountering the pressure level of the 4-hour EMA52 line, forming a short-term downward trend. In the short term, short positions can be made in the 3580-3680 range, and long positions can be made in the 3415-3380 range, effective within the day.
From the Ethereum three-day liquidation heat map, we can see
Price increases, with some short positions waiting for liquidation in the 3544-3580 and 3600-3620 areas
Price decreases, with a large number of substantial and super-sized long positions waiting for liquidation in the 3380-3160 area
