Ethereum market analysis

Ether's rising strength, now Bitcoin is 68,000, and Ethereum is still 2,600. It seems that this round of bull market is Bitcoin leading the cottage, and Ethereum is just stagnant. Are you still waiting for the trend?

Market analysis:

Ether is currently in a triangular oscillation. From the daily level, there is a sense of breaking through the oscillation. This week, the highest price reached around 2,688. Suppressed by the trend line, the breakthrough was resisted by the first support of the four-hour period. It rebounded to around 2,647 and fell again. The current price is around 2,590. It is currently in a sideways oscillation.

The pressure level is around 2,660-2,700, the first support is around 2,560, and the daily and hourly support resonates around 2,500. The support strength is very strong.

Trading ideas

Pay attention to the upper pressure level. Once the second peak is reached, the price will stagnate again near the pressure level. You can start to go short. The short-term target is around 2,560. The current price seems to have a second test of the first support of 4 hours around 2,560, and there is a phenomenon of stopping the decline near this position. You can go long with the trend, focusing on the daily and 4-hour levels. There are important long opportunities near the resonance level of 2500.

Summary: Focus on the callback low support and go long with the trend. Pay attention to the pressure level near the upper trend line. ETH 2570~2540 long, stop loss 2490 target 2623~2654

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