Ethereum has been oscillating repeatedly in the range of 3000 to 3200 recently. When the price reached 3200 early this morning, a risk warning was issued.
First look at the above chart, the large-scale spot trend indicates that the A round breakout has been completed. According to the ABC structure theory, there is room for a B round pullback to 2800 at this position. This morning, the two rounds of four-hour lines quickly reached around 3200 and were rapidly suppressed, indicating significant resistance above, and the bullish momentum has somewhat weakened.
The hourly level resistance levels are 3115, 3150, and 3200, with support levels at 3050 and in the range of 2950 to 2920. The daily level resistance is at 3200, with support in the range of 2800 to 2780.
Aggressive or short-term traders can operate based on hourly resistance and support orders.
Conservative traders can place orders to buy near the key daily level support at 2800 to 2780. If support is obtained, a new round of upward trend is expected.
The above views are for reference only. Thank you for your recognition and attention. Wishing everyone prosperity! Please 'forge' more support.
