ETH Today Trend Analysis


1. K-line pattern analysis

As can be seen from the figure, ETH formed a small positive line with a long lower shadow today.

The opening price was 3317.79 USDT, the highest price was 3319.49 USDT, the lowest price was 2855.00 USDT, and the closing price was 2913.92 USDT. This K-line pattern shows that the long and short sides are fighting fiercely in the current price range, and the long side has a slight advantage.

2. Technical indicator analysis

Moving Average (MA)

MA(5)：2916.79 USDT 

MA(10)：2957.08 USDT 

MA(30): 3035.46 USDT From the perspective of moving averages, the short-term moving averages (MA(5) and MA(10)) show a downward trend, indicating that the market is still in a downward trend in the short term. However, the medium-term moving average (MA(30)) is slightly flat, indicating that the medium-term trend still needs to be observed.

Bollinger Bands

The middle track of the Bollinger Band is 3035.46 USDT, the upper track is 3328.64 USDT, and the lower track is 2842.28 USDT. The current price is between the lower and middle tracks of the Bollinger Band, indicating that the market has a certain upward pressure in the short term.

Volume

Today's trading volume is 71.8K ETH, which is an increase from the previous few days. The increase in trading volume indicates that market participation has increased, and as prices fluctuate, there is a certain degree of uncertainty in the short term.

3. Price trend analysis

Combining the K-line pattern and technical indicator analysis, the future price trend of ETH may have the following situations:

Short-term fluctuations: As the price fluctuates below the MA(5) and MA(10) moving averages and the trading volume has increased, the price may fluctuate and consolidate in the range of 2850.0 USDT to 3050.0 USDT in the short term. If this range can be effectively broken through or broken, it will have a significant impact on the subsequent trend.

Possibility of rising: If the price can effectively break through the resistance level of 3050.0 USDT, it indicates that the bulls are strengthening and the price is expected to rise further to above 3200.0 USDT. At this time, it is necessary to pay attention to the coordination of trading volume. If the trading volume continues to increase, the sustainability of price increases is relatively strong.

4. Specific operation points

Go long

Long point 1: When the price pulls back to around 2850.0 USDT, you can consider going long in batches, and set the stop loss below 2800.0 USDT. This position is close to the short-term support level and has a good risk-reward ratio.

Long position 2: If the price effectively breaks through the resistance level of 3050.0 USDT, you can consider going long and set the stop loss below 2950.0 USDT. This position indicates that the bulls are strengthening and are expected to continue to rise.

Short position

Short position 1: When the price fails to break through 3050.0 USDT and falls back, you can consider shorting in batches, with the stop loss set above 3100.0 USDT. This position indicates that the market is under pressure and there is a downside risk in the short term.

Short position 2: If the price effectively falls below the support level of 2850.0 USDT, you can consider shorting, and set the stop loss above 2900.0 USDT. This position indicates that the short position is strengthened and is expected to continue to fall.

5. Stop loss setting

Stop loss 1: 2800.0 USDT (corresponding to 2850.0 USDT long position)

Stop loss 2: 2950.0 USDT (corresponding to 3050.0 USDT long position)

Stop loss 3: 3100.0 USDT (corresponding to 3050.0 USDT short position)

Stop loss 4: 2900.0 USDT (corresponding to 2850.0 USDT short position)

VI. Conclusion

The current price trend of ETH shows that it may continue to fluctuate and consolidate in the short term, testing the resistance level of 3050.0 USDT. If the price can effectively break through this resistance level, it is expected to rise further to above 3200.0 USDT; if it falls below the support level of 2850.0 USDT, it may continue to fall to 2800.0 USDT or even lower.


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