ETH Analysis and Forecast for Today
ETH 4-hour candlestick chart
One hour
Technical Analysis
Moving Average (MA):
5-day moving average: The current ETH price is at 2475.37, which is lower than the 5-day moving average of 2543.49, indicating that short-term market sentiment is still bearish.
10-day moving average: Currently at 2616.86, the price is below the 10-day moving average, further confirming the downward pressure on the market.
30-day moving average: at 2699.26, the price is far below the 30-day moving average, and the overall market trend is still bearish.
Bollinger Bands:
The middle track of the Bollinger Band is at 2683.65, the upper track is at 2866.67, and the lower track is at 2500.62. The current price is near the lower track of the Bollinger Band, and there is a certain rebound demand, but the pressure from above is relatively large, and it may continue to fluctuate at a low level in the short term.
CCI（Commodity Channel Index）：
CCI is currently **-195.87**, which is in the oversold range, indicating that the market may have certain technical rebound opportunities, but the rebound strength may be limited.
Volume:
Trading volume has increased significantly in the recent past, indicating that the market is under heavy selling pressure. It is necessary to pay attention to the subsequent changes in trading volume. If the trading volume increases and the price fails to rebound effectively, it may continue to intensify the downside risk.
Yesterday's review and today's forecast
Yesterday, the price of ETH fell from a high of 2819.35 to a low of 2388.00. It is expected that the market may fluctuate and consolidate in the range of 2400 to 2500 today. The probability of continuing to decline in the short term is high, but there may be a short rebound in the oversold range.
Today's operation suggestions
First support level: 2400 (if the price approaches this point, it may get short-term support and is expected to rebound to around 2450 after stabilization)
Second support level: 2380 (this is a strong support level. If it falls below this level, beware of the risk of further decline to around 2350)
First resistance level: 2500 (key resistance level in the short term, after breaking through, the price is expected to challenge around 2550)
Second resistance level: 2540 (strong resistance above, if it can break through, it is expected to challenge 2600 points)
Stop loss: 2350 (if the price falls below this level, it is recommended to stop loss in time to avoid greater losses)
Today's operation strategy
Long strategy: If the price gets support near 2400 and a rebound signal appears, you can go long with a light position, with the target at 2500 and the stop loss at 2350.
Short strategy: If the price encounters resistance near 2500 and shows obvious signs of correction, you can consider shorting, with the target at 2400 and the stop loss at 2550.
ETH may fluctuate and consolidate in the range of 2400 to 2500 today. In the short term, we need to pay close attention to the changes in trading volume and the reactions of key support and resistance levels. Investors are advised to take a cautious attitude and avoid blindly chasing ups and downs in the range. Today's operations need to be closely combined with the actual market fluctuations, and positions should be adjusted flexibly to ensure that risk control is in place.
Direction suggestion: It is recommended to adopt a cautious wait-and-see strategy today and wait for the market direction to become clearer. If the price breaks through 2500, you can consider going long with a light position, but pay attention to the strong resistance level of 2540 above.
The market is unpredictable and opportunities are fleeting. Only by paying close attention to every subtle change and seizing your own opportunities can you remain invincible in the ups and downs of the market. Are you ready today? Let's look forward to the wonderful performance of the market together!
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