Ethereum's trend is still synchronized with Bitcoin, showing an upward bias in the hourly level, with the daily line closing as a small bullish candle with short upper and lower shadows. The trading volume is only half of the previous day, indicating a contraction in the oscillation pattern.
The daily MACD is near the zero axis, showing a weakening downward momentum. If it oscillates for another day, and a longer bullish candle appears tomorrow or the day after with increased trading volume, a golden cross of the fast and slow lines will occur, leading to a short-term rise.
The upward resistance level is at the daily MA30 line, and it will definitely need to pull back before reaching this position, so the MA30 line is the short-term profit-taking position for long positions.
If Ethereum can pull back to the red box area, it is a great buying opportunity, so don't miss it. As long as Ethereum rises, it will drive altcoins up as well.
The daily level resistance levels are 3520-3665-3825-4200, and support levels are 3220-3020-2870-2750.
The hourly level is showing a 4-hour pullback back to the pressure level of the 4-hour EMA52 line within a 15-minute rebound trend.
In the short term, you can take short longs at 3360 and 3300, and short shorts at 3490 and 3550, effective within the day.
From the Ethereum liquidation heatmap data, we can see
the price is rising, with a large number of substantial short positions waiting for liquidation in the 3432-3516 area
the price is falling, with a large number of substantial and extra-large long positions waiting for liquidation in the 3300-3190 area
