The hourly trend of Ethereum is basically consistent with Bitcoin, showing a downward oscillation during the Asian market hours and an upward oscillation during the European and American market hours, slightly stronger.
The daily chart shows another small bullish candle resembling a doji, still maintaining a narrow oscillation trend, which is a good sign; the longer the oscillation lasts, the more energy is built up.
However, caution is needed as a rapid drop appears on the hourly chart, followed by a quick rebound, which indicates a pinpoint explosion to clear contracts and leverage.
The daily MACD still shows a continuous weakening of the downward momentum, waiting for a longer bullish candle to signal the beginning of a rebound.
Do not lose patience with Ethereum; patience is often the most important factor in trading. When Ethereum rises, altcoins rise too, so it's important to hit the right rhythm.
Daily level resistance at 3480-3630-3825-4200, support at 3300-3200-3100-3020-2870-2750.
The current hourly trend is showing a 6-hour rebound with insufficient downward momentum and a 5-minute rebound pattern.
Short positions can be taken at 3460 and 3570, while long positions can be taken at 3310 and 3220.
From the liquidation heat map data of Ethereum, it can be seen that
As the price rises, there are a large number of substantial short positions waiting to be liquidated in the 3376-3410 area, 3448-3488 area, and 3508-3548 area.
As the price falls, there are a large number of substantial long positions waiting to be liquidated in the 3308-3260 area and 3240-3204 area.
