1. Daily Line Analysis
As of September 29, the price of Ethereum (ETH) was $2,651. From the daily chart, after several days of continuous rise, the current price of Ethereum is close to MA10 ($2,627) and MA30 ($2,462), forming short-term support. The price previously rebounded to around $2,800 and encountered resistance. At this stage, it is fluctuating and adjusting in the $2,640 area. Importantly, the price is currently running above Fibonacci 38.2% ($2,410), indicating that the upward momentum is still maintained in the short term.
In terms of MACD indicators, the fast and slow lines are about to form a golden cross at a low level, and the green kinetic energy column is gradually fading, which suggests that the market is expected to rebound further. However, it should be noted that the current price is still in a strong suppression range, and the MA120 moving average (US$2,981) is still a strong resistance level above.
Daily operation suggestions: If Ethereum can firmly stand at the $2,600 support, it is expected to challenge the $2,800 resistance area, and may test the high of $3,000 after breaking through. It is recommended to buy on dips in the $2,640-2,660 range, with a short-term target of $2,800. If the price falls below the $2,600 support, be alert to the risk of a possible fall back to $2,400, and consider exiting the market at that time.
2. Four-hour line analysis
The four-hour chart shows that Ethereum maintains an upward channel in the short term, with prices running above MA5, MA10 and MA30 moving averages, and the overall trend is strong. However, the price has fallen recently, and the momentum column in the MACD indicator has shortened, indicating that the upward momentum may weaken in the short term and face adjustment pressure. The upper $2,800 is the key resistance of the four-hour chart, and the lower $2,600 has strong support.
Ethereum's four-hour trend shows that if it can hold the $2,600 mark, it is expected to continue its rebound in the short term, but if it falls below $2,600, it may test $2,500 in the short term.
Four-hour operation suggestion: Investors are advised to go long with a light position in the $2640-2650 area, with the target at $2750-2800. If the price falls below the $2600 support, stop loss and wait and see in the short term, waiting for the support below $2500 before making another layout.
3. One-hour line analysis
From the one-hour chart, Ethereum is currently in a state of small fluctuations and adjustments. After the price fell back to near MA30 (US$2,620), it received short-term support. The momentum column in the MACD indicator showed a shrinking state, indicating that the downward momentum has weakened in the short term. At the same time, the MA5 and MA10 moving averages are expected to form a new long arrangement in the next few hours, supporting the price rebound.
In the short term, Ethereum's upper pressure level is still in the range of $2700-2750, and the lower support is around $2600. If the price can effectively stabilize above $2600, it is expected to retest the upper resistance; if it falls below this support, it may look for lower support in the short term.
One-hour operation suggestion: Short-term traders are advised to look for low entry opportunities in the $2,600-2,620 area, with a short-term target of $2,700-2,750. If the price falls below the $2,600 support, it is necessary to stop loss decisively and wait for a more stable opportunity.
Summarize
Ethereum is currently in a critical range of fluctuations. In the short term, we need to focus on the support of $2,600 and the resistance of $2,800. If the price can stand firmly above $2,600, it is expected to continue the rebound and move further towards $2,800 or even $3,000. If it falls below this support, there may be a certain risk of a callback. In terms of operation, it is recommended to arrange light positions, pay close attention to the changes in support and resistance, and reasonably control positions and risks.
