According to the ETH K-line chart
Moving Average (MA): The current price is between the 5-day MA (2029.05) and the 10-day MA (1880.38). The price is close to the 10-day MA, but significantly lower than the 5-day MA, which may indicate that there is still some downward pressure in the short term. The 5-day and 10-day MAs have crossed, indicating that the market trend may change in the near future.
Bollinger Bands: The upper track of the Bollinger Bands is 3964.45, and the lower track is 3509.72. The current price is close to the lower track of the Bollinger Bands, and the Bollinger Bands opening is narrowing, indicating that market volatility may weaken and may enter a consolidation range in the short term.
CCI (Commodity Channel Index): The current CCI indicator shows 200.11, which shows that ETH may be in the overbought area in the short term, but the overall market is still weak and the price may adjust in the short term.
Volume: The volume has dropped significantly, indicating that the market's trading momentum is insufficient. This usually indicates that both long and short sides are in a wait-and-see state, and the market may be waiting for more directional guidance.
Yesterday's review and today's forecast
Yesterday, ETH price encountered obvious resistance when approaching the 10-day moving average and failed to break through, causing the price to fall back to the lower track of the Bollinger Band. If there is no support from large trading volume today, the price may continue to fluctuate in the current area.
Today's operation suggestions
Based on current technical analysis, here are today's operational recommendations and key points:
The first support level: 2480 (near the previous low point, a short-term key support)
Second support level: 2400 (a longer-term key support level, a break below this level may trigger greater selling pressure)
The first resistance level: 2680 (close to the 10-day moving average and the previous high, an important resistance level in the short term)
Second resistance level: 2750 (close to the middle track of the Bollinger Band, which is also an important target for bulls in the near future)
Today's operation strategy
Short：If the price falls below 2490
Admission: 2490-80
First Zhiying position: 2430
Second Zhiying position: 2400
Stop: 2550
You can consider opening an appropriate amount of short positions, with the target at 2400 and the stop loss at 2550.
In general, the price of ETH today may fluctuate in the range of 2480 to 2680. In the case of light trading volume, investors are advised to pay close attention to key support and resistance levels and respond flexibly to market changes. If the price successfully breaks through 2680, it is expected to usher in a short-term rebound, otherwise it may continue to test the support area below.
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