Analysis of $ETH , personal view technical analysis (1-hour level):
Moving Average (MA):
The price is below the short-term moving averages (such as MA7 and MA30), indicating a bearish short-term trend. Bollinger Bands:
The price fluctuates near the lower Bollinger Band, indicating increased market volatility and potential oversold conditions.
Relative Strength Index (RSI):
The RSI is close to or below 30, entering the oversold area, which may suggest a short-term rebound.
Contract trading strategy suggestions: Going long (high risk, counter-trend operation):
Entry point: If the price stabilizes in the $1,440-$1,460 range and shows signs of a strong upward movement, consider entering a light long position.
Target: $1,500-$1,520.
Stop loss: Below $1,430. Reason: RSI indicates oversold conditions, and the price is near previous support levels, which may lead to a short-term rebound. However, note that counter-trend operations carry a higher risk, and strict stop-loss settings are necessary.
Going short (trend-following operation):
Entry point: If the price rebounds to the $1,500-$1,520 range and encounters resistance, consider placing short positions in that area.
Target: $1,450-$1,430.
Stop loss: Above $1,530. Reason: The overall trend remains bearish, and after encountering resistance at key levels on a rebound, it may continue to decline. Trend-following operations are relatively lower risk, but market changes still need to be monitored.