Currently, there is no need to panic about a pullback; the upward channel of Ethereum depicted in the previous chart remains unchanged. A pullback is an opportunity to enter long positions. The current level has pulled back to a low point, allowing for entry!
【Analysis of Ethereum Price Trend from a Four-Hour Chart】
Candlestick Pattern:
Recently, the price has been fluctuating around 4000, with multiple attempts to break through failing, forming a short-term top. The daily candlestick shows a long upper shadow on December 6, indicating significant selling pressure above. However, there is considerable buying interest below, and strong support has emerged.
Technical Indicators:
MACD: In the four-hour cycle, both DIF and DEA are trending downwards, and the MACD histogram is negative, indicating an increase in bearish momentum. However, the volume has already been released, suggesting that the pullback has reached a low point.
BOLL: The four-hour Bollinger Bands have contracted and are now expanding, with the price touching the lower band without breaking below it, indicating strong support below and a bullish trend in the future.
EMA: The current price is below EMA7 (3939.64), and EMA7, 30, and 120 are in a bearish arrangement, indicating a weak short-term trend, while the long-term trend remains predominantly bullish.
Evening of 12/9 Ethereum Steady Profit Layout:
It is recommended to enter long positions near 3860-3880 for Ethereum, with a take-profit target of 3950-4000. If it stabilizes at 4000, it can be held further!