Recent Trend Analysis

  1. Long-term trends:

    • ETH has shown significant volatility since the beginning of 2021, reaching an all-time high of $4,877.54 in November 2021.

    • The price then experienced a sharp correction, hitting a low of $883.23 in June 2022.

    • After that, the price gradually recovered and is currently at $3203.90.

  2. Medium-term trend:

    • From the beginning of 2023 to the present, the price of ETH has shown a fluctuating upward trend, indicating that the medium-term market sentiment is relatively optimistic.

  3. Short-term trends:

    • The current price is fluctuating around $3,200 and may consolidate in this area in the short term, waiting for further breakthroughs.

Key technical indicators

  1. Moving average:

    • 5-week moving average (MA5): 14932.36

    • 30-week moving average (MA30): 14514.29

    • The current price is significantly higher than the 5-week moving average, indicating that the short-term market sentiment is relatively bullish.

  2. Volume:

    • Trading volume has increased recently, indicating that market trading activity has increased and capital inflows have been significant.

Yesterday's position

  • Opening price: 3396.07

  • Closing price: 3203.90

  • Highest price: 3399.06

  • Lowest price: 3190.00

Today's forecast point

First take profit position

  • First take profit level: $3,300

    • The first resistance level in the short term. If this level is broken, the price is expected to continue to rise.

Second take profit position

  • Second stop profit level: $3,500

    • If the price breaks above $3,300, it could move further up towards $3,500.

Stop Loss

  • Stop loss: $3,100

    • If the price falls below $3,100, it may fall further and stop loss in time.

Trend

  • Short-term trends:

    • In the short term, the price may fluctuate between $3,100 and $3,300. If it can break through $3,300, it is expected to rise further.

  • Medium-term trend:

    • Standing firmly above $3,100 shows that prices are expected to continue to rise, but we need to be vigilant about a possible pullback.

  • Long-term trends:

    • The price is still in an upward channel. If it can break through and stabilize above $3,300, it is expected to continue its long-term upward trend.