10.21 Ethereum (ETH) Market Analysis Reference
The Ethereum trend is linked to the overall market, and the coin price is under pressure for a pullback, with the price retreating to around 3920. The short-term upward momentum has been disrupted, and daily support is slowly moving downwards, indicating a wide range of fluctuations.
From a 4-hour perspective, the price fell to 3961 after a long upper shadow at the recent high of 4085.3, showing significant selling pressure above; on the hourly level, a double top is formed with 4049.51 and 4070.92, with the neck line at 4000. The current price has broken below the neck line, indicating further downside risk. In terms of technical indicators, the 4-hour MACD shows that DIF (14) and DEA (-1) formed a death cross below the zero axis, and the MACD histogram has shrunk to 30, indicating a decrease in downward momentum; at the same time, the price has broken below EMA7 (3991) and EMA30 (3963), while the 120-day moving average (4112) still exerts pressure from above, resulting in an overall bearish short-term trend. Therefore, our strategy is to focus on short positions, with some support for long positions. The upper resistance is around 4060, and the lower support is around 3850-3880.
10.21 Ethereum Short-term Reference:
Test 4030-4090 for light short positions, stop loss 30 points, target below 4000,
Test positions 3831-3891 for long positions, stop loss 30 points, target above 3960,
Article sending is delayed, and strategy suggestions are for reference only. The market changes rapidly; regardless of how high your judgment on the market is, make sure to set stop-loss and take-profit levels properly, securing profits.
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