ETH today's trend analysis and operation suggestions
 

From the ETH/USDT 4-hour K-line chart, ETH has shown a clear downward trend in recent trends. The current price is 2378.50 USDT, which is still in a short-term weak position.
Hourly chart
 

Recent Trend Review:

  • As can be seen from the chart, after ETH reached a high of 2819.35 USDT on August 26, it experienced a series of large corrections, reaching a low of 2304.87 USDT.

  • The current price is oscillating around 2378.50 USDT and is still under the suppression of the moving average system in the short term. In particular, the MA10 (2455.85 USDT) has exerted significant pressure on the price.

  • Yesterday’s rebound was weak and failed to effectively break through the psychological barrier of 2,400 USDT, indicating a lack of market confidence.

Moving average system:

  • MA5：2375.15 USDT

  • MA10：2455.85 USDT

  • MA30：2705.17 USDT

Volume:

  • The trading volume shows that the decline is large and the rebound is small, which shows that the market has a large selling pressure and the short-selling force is dominant. If the trading volume continues to shrink today, the price is likely to continue to bottom out.

2. Technical indicator analysis

MACD：

  • The MACD fast and slow lines are still below the zero axis, and the short-term momentum column is obvious, indicating that the short-term strength is still strong. Unless the price breaks through 2450 USDT, the short-term trend will still be mainly volatile and downward.

RSI：

  • The RSI is currently hovering around 35, indicating that the market is in a weak range and may continue to fall in the short term. Unless strong buying intervenes, the downside risk still exists.

Bollinger Bands:

  • The ETH price is currently near the lower Bollinger Band, indicating that it may fluctuate between 2300 USDT and 2400 USDT in the short term, and there will be greater resistance above when it rebounds.

3. Today's operation suggestions

Predicted trend: Today, ETH is likely to fluctuate in the range of 2300-2450 USDT. If the price fails to effectively break through the resistance level of 2450 USDT, it may continue to move downward to test the support level of 2300 USDT.

Specific operation strategies:

First stop profit: 2450 USDT

  • If the ETH price breaks through 2450 USDT, it is recommended to take profit at this position to lock in short-term profits.

Second stop profit position: 2500 USDT

  • If the ETH price continues to rise and breaks through 2500 USDT, it is recommended to take all profits at this position to prepare for possible reversals.

Stop loss: 2300 USDT

  • If the price falls below 2300 USDT, it indicates that the market sentiment has further turned bearish. It is recommended to stop loss in time to avoid greater losses.

ETH's current trend is still weak, the short-term rebound is not strong, and the trading volume has not increased significantly, indicating that the market is dominated by short-selling forces. Combining the analysis of MACD, RSI and Bollinger Bands, it is expected that ETH will continue to fluctuate in the range of 2300-2450 USDT today. If it fails to effectively break through 2450 USDT, it may continue to pull back to test the support level of 2300 USDT.

In terms of direction, it is recommended to operate cautiously and hold a light position. In the short term, market sentiment remains pessimistic and prices may remain weak and volatile.

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