Ethereum's Strong Comeback! Is the Next Step a Leap or a Pullback?
Key Moment for Ethereum
The current price of ETH is $3,626.27, up 4.54% for the day, with a trading volume of 1.191 billion USDT. Recently, Ethereum rebounded from a low of $3,462.57, gradually approaching the intraday high of $3,630.00, with market sentiment clearly warming up, and bulls beginning to dominate.
Technical Analysis: Bullish Signals Gradually Strengthening
From a technical perspective, the short-term moving average MA(7) and the medium-term moving average MA(25) have formed a golden cross, indicating that bullish momentum is recovering. Meanwhile, the long-term moving average MA(99) remains upward, signaling that the medium to long-term trend in the market is still positive.
RSI Signals
• RSI(6) is 72.76, having entered the overbought area in the short term, and may need slight adjustment.
• RSI(24) is 54.82, showing that overall market sentiment is bullish but not overheated.
MACD Signals
• The MACD indicator has turned positive, and the histogram is expanding, indicating that bullish strength is further increasing, with upward momentum still possible in the future.
Key Support and Resistance Levels
• Support Levels:
• First Support: $3,562
• Second Support: $3,500
• Resistance Levels:
• First Resistance: $3,630
• Second Resistance: $3,700
• Strong Resistance: $3,800
In the short term, if Ethereum can break through $3,700, it will likely challenge $3,800, further opening up upward space; however, if it cannot hold above $3,562, it may pull back to the $3,500 area.
Operational Suggestions: How to Seize Opportunities?
Short-term Strategy
• Bullish Strategy:
• Buy lightly in the $3,562-$3,580 area, with a stop-loss set at $3,500, targeting $3,700-$3,800.
• Defensive Strategy:
• If the price fails to break through $3,630, temporarily observe and wait for clearer trend signals.
Long-term Investor Suggestions
The medium to long-term trend for Ethereum remains optimistic, consider implementing a staggered investment strategy, but closely monitor the stability of the $3,500 support level.
Market Outlook
Ethereum has currently entered the first phase of the bullish comeback, but short-term overbuying may lead to a slight pullback. If it can hold the key support and break through the upper resistance levels, the next target will aim for $3,800. If you are still on the sidelines, this may be your last chance to board the train!
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