1. Review of yesterday's trend
From the K-line chart, ETH presented a volatile trend yesterday, with prices fluctuating between 3350-3400. Although the price attempted to break above 3400 multiple times, it still failed to form an effective breakout. The closing price yesterday was near a high, indicating some bullish momentum support in the market. Currently, the price is operating near a low area within a downward trend, and the recent low price (3100) and current price (3390) form a clear rebound structure. In the short term, if the price breaks through the 3400 resistance level, it may open further upside.
2. Technical Indicator Analysis
Moving Average System (MA): MA7 (short-term moving average) has turned up, indicating that short-term prices are beginning to stabilize and rebound. MA30 (medium-term moving average) provides support at the 3370 level, and the current price is above MA30, which helps sustain short-term bullishness. MA100 (long-term moving average) still maintains a downward trend, indicating that the medium to long-term bearish trend has not yet fully reversed, but it does not affect the possibility of a rebound in the short term.
Bollinger Bands (BOLL): The current price is close to the middle band of the Bollinger Bands and is attempting to break above it. If it breaks through the middle band, the upper band target is 3500-3550, with further upside potential.
MACD Indicator: The MACD fast and slow lines form a golden cross at low levels, and the red momentum bars are gradually expanding, indicating that bullish momentum is strengthening.
RSI Indicator: RSI is around 50, in a neutral zone, indicating that there is no obvious overbought or oversold state, and there is room for further upward movement.
3. Today's predicted trend
Combining the current technical aspects, ETH may continue yesterday's volatile bullish trend today, paying attention to the rebound strength after the price breaks through the 3400 resistance level:
Main support levels: 3370 (MA30 support) and 3350.
Main resistance levels: 3400 and 3500.
If the price can break through 3400 and stabilize, the probability of further rallying to 3500-3550 is high; if it fails to break through, it may fluctuate repeatedly between 3350-3400.
4. Operational suggestions
Opening position: 3380 (lightly go long when the price retraces, it is recommended to build positions in batches, avoiding chasing highs or heavy positions at a single price)
First take profit level: 3440
Second take profit level: 3500
Stop loss level: 3350 (short-term support level breached, strictly control risk)
If ETH fails to break through 3400 and continues to decline, one should be cautious of the risk of prices falling below 3350, at which point timely stop loss is necessary. Short-term market sentiment is highly volatile, it is advisable to control positions and closely monitor real-time market dynamics. ETH is currently trading above the short-term moving average, and technical indicators show that bullish momentum is gradually recovering. Today's operational direction is mainly to go long, focusing on further upside potential after the price breaks through the 3400 resistance level. It is recommended to strictly control positions and stop losses to avoid excessive losses due to market fluctuations.
Can ETH break through 3400? Manage risk to win the market! Follow Mr. Qiu, let's operate accurately together and seize every opportunity with ETH.
