📣 Ethereum's rise is suppressed, it is recommended to short at high positions 📉

From the current trend (as shown in the chart), Ethereum is currently under pressure at 1610 (which is the middle position of the four-hour Bollinger Bands), having attempted multiple times to stabilize and break through, but has instead faced a drop. At this time, the trend is relatively weak, and it is still recommended to short during rebounds in the future.

【Analysis of Ethereum's price trend on the four-hour chart】

Candlestick pattern:

Recently, the price has been fluctuating around 1600, forming a narrow oscillation range. On April 14, a long upper shadow was observed, indicating significant pressure from above.

Technical indicators:

MACD: The current MACD is in the negative zone, and both DIF and DEA are trending downwards, indicating that there is still some downward pressure in the short term.

RSI: The RSI value is close to 50. Market sentiment is neutral but slightly bearish.

EMA: EMA7 has fallen below EMA30, indicating a weakening short-term trend; EMA120 is far above the current price, and the long-term trend remains bearish.

Trading volume:

Recently, the trading volume has decreased, indicating a decline in market participation. On April 16, trading volume significantly increased, possibly due to trading activity triggered by rapid price fluctuations.

Ethereum's stable profit layout for the evening of 4/17:

It is recommended to enter short positions around 1600-1610, target points: 1570-1550-1500. If broken, look for 1480.

For rebounds, it is suggested to add to the short position at 1640, target points: 1590-1570-1550.

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