The daily line is a large bullish candle with a short upper shadow and an amplitude exceeding 13%. The trading volume is more than three times that of the previous day, making it the largest trading volume since August 5, indicating a volume-supported rise.
The daily MA30 line has started to turn upwards, and the MACD is showing a weakening downward trend near the zero axis. If a bullish line is formed today, the MACD will exhibit a golden cross of the fast and slow lines, and prices will continue to rise further.
We already reminded everyone in the market commentary on the 5th to pay attention to Ethereum's bullish breakout through multiple lines. When this pattern appears, it signifies that the call for Ethereum's counterattack has been sounded.
Currently, the price has reached the top area of previous rises. Due to the large bullish candle at the daily level consuming a lot of bullish energy, there will be a short-term upward push, and a sharp decline is unlikely. There will be a downward correction at a smaller level, and this correction is aimed at better upward movement. We look forward to Ethereum's upcoming rise.
Daily level resistance levels are 2855-3060-3290, and support levels are 2570-2350-2260-2150.
From the hourly level, it is currently showing a 10-minute rebound with a new high and a top divergence pattern.
In the short term, long positions can be taken at 2660, 2620, and 2585, and short positions can be taken at 2750.
From the three-day liquidation heat map,
The price is rising, with a small number of short positions waiting to be liquidated around 2748-2788.
The price is falling, with some short positions waiting to be liquidated in the 2656-2616 area, and a large number of significant long positions waiting to be liquidated in the 2600-2496 area.
