Ethereum's slow rise and sudden drop: can we still go long? Latest strategy analysis

After testing resistance on Monday, Ethereum's price retreated sharply, washing out weak hands. Today, we'll provide an estimate for the future market direction based on the weekly chart. The weekly chart indicates direction, so we focus on momentum rather than price; consider this.

The key area below is around 3200-3000. The support in this region is crucial to monitor; if the price breaks below this area, we can leverage up to enter the market once it reaches around 2800-2700.

The daily chart shows Ethereum breaking below MA60 again, with the previous candle closing as a solid bearish candle. There is a need for a consolidation in daily candles, so be cautious while chasing further downward movements. The 4-hour chart shows a continuous decline; the support at the lower edge of the small range around 3300 serves as a temporary reference. If this level breaks, we need to pay attention to the previous lows. For short-term trading, consider entering at support levels while managing risks and making reasonable plans. This week, we also have non-farm payroll data to be released, which may lead to greater market fluctuations.

Short-term Ethereum suggestions: if 3280 holds, go long in the 3320-3300 range, targeting 80-150 points.

If 3130 holds, go long in the 3180-3150 range, targeting 80-150 points.

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