1. Review of yesterday's trend
From the candlestick chart observation, ETH showed an overall oscillating trend yesterday, with prices fluctuating in the 3350-3400 range. Although the price attempted to break upwards multiple times around 3400, it still failed to form an effective breakthrough. The closing price yesterday was near the high, indicating that the market has certain bullish momentum support. Currently, the price is running near the low area in a downward trend, with the recent low (3100) and the current price (3390) forming a clear rebound structure. In the short term, if the price breaks through the resistance level of 3400, it may further open up upward space.
2. Technical Indicator Analysis
Moving Average System (MA): MA7 (short-term moving average) is turning upwards, indicating that short-term prices are beginning to stabilize and rebound. MA30 (medium-term moving average) is forming support at the 3370 line, and the current price is running above MA30, which helps sustain short-term bullish momentum. MA100 (long-term moving average) is still maintaining a downward trend, indicating that the medium to long-term bearish trend has not been completely reversed, but does not affect the possibility of a rebound in the short term.
Bollinger Bands (BOLL): The current price is close to the middle track of the Bollinger Bands and is attempting to break through the middle track upwards. If it breaks through the middle track, the upper target of the Bollinger Bands is 3500-3550, with further upward space expected.
MACD Indicator: MACD fast and slow lines form a low position golden cross, red momentum bars gradually expand, indicating that bullish momentum is strengthening.
RSI Indicator: RSI is around 50, in the neutral zone, indicating that the price does not have obvious overbought or oversold conditions, and there is further upward space.
3. Today's predicted trend
Combining the current technical situation, ETH may continue yesterday's oscillating bullish trend today, pay attention to the rebound strength after breaking the resistance level of 3400:
Major support levels: 3370 (MA30 support) and 3350.
Major resistance levels: 3400 and 3500.
If the price can break through 3400 and stabilize, the probability of further attacking 3500-3550 is high; if it fails to break through, it may oscillate repeatedly between 3350-3400.
4. Operational suggestions
Opening position: 3380 (lightly buy when price retests the area, suggest building positions in batches to avoid chasing highs or concentrated 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, be wary of the risk of price falling below 3350, and timely stop loss will be needed. Short-term market sentiment is highly volatile, it is recommended to control positions and closely monitor the real-time market dynamics. ETH is currently running above the short-term moving average, and technical indicators show that bullish momentum is gradually recovering. Today's operational direction is mainly to buy, focusing on further upward space after breaking the resistance level of 3400. It is advised to strictly control positions and stop losses to avoid excessive losses caused by market fluctuations.
Can ETH break through 3400? Do a good job of risk control and win the market! Follow Mr. Qiu, let’s operate precisely together and seize every opportunity of ETH.
