Ethereum's trend is weaker than that of its big brother Bitcoin. The daily line shows a small bullish candle with a long upper shadow, and the trading volume is slightly higher than the previous day, basically flat, which is a normal trading volume state. The trend is still synchronizing with Bitcoin's trend.
The daily MA30 line is still in a slight downtrend, with the MACD showing a weakening downward momentum close to the zero line.
As we mentioned yesterday, when a bullish candle appears, the MACD will shift to a weakening downward momentum. Since the MACD is relatively close to the zero line, the trend will change relatively quickly.
The daily MA30 line remains a short-term resistance level, and the MA30 line has basically coincided with the lower edge of the upper red box. The price is at 3330, and if the next few days show small bullish candles gradually moving up, then right after the small bullish candles, there could be a large bullish candle that directly breaks the resistance of the MA30 line, allowing the price to stand above the MA30 line. The MA30 line will flatten and begin to turn upward, signaling a new round of upward trend.
Daily level resistance at 3220-3340-3470-3540-3700-3825 and support at 3020-2960-2790.
The hourly trend is currently showing a 2-hour pullback with insufficient downward momentum for a rebound, returning to the 2-hour pullback resistance level. There will still be fluctuations on the hourly level, and if the 2-hour level is not enough resistance, the price is likely to continue rising.
In the short term, you can go long at 3030 and 2980, and short at 3220 and 3340. Be sure to take profits and cut losses in a timely manner.
From the liquidation heat map data of Ethereum,
the price is rising, with a large number of short positions waiting to be liquidated in the 3184-3296 area.
the price is falling, with a large number of long positions waiting to be liquidated in the 3048-2952 area.