Is the ascending channel for Ethereum forming at 4.28? The resistance level at the critical point of change will determine the market direction! Latest market analysis reference
Ethereum is currently priced at 1800, the defensive replenishment point at 1850 has been reached. Falling below 1800 to take profits is also a helpless choice, as the second coin has repeatedly shown signs of selling after breaking previous highs. A one-sided market cannot be ruled out, and the bullish trend has formed an ascending flag pattern. In this bullish trend, shorting may occur against the trend, so to be prudent, it's advisable to first secure the chips in hand and take a profit of 40 points.
The daily K-line has a highest of 1860 and a lowest of 1780. The EMA trend indicator at a larger level is still bearish, with a short-term pullback and contraction, especially as the EMA15 and 30 have contracted to around 1720 and are still stretching upwards. MACD has continuously reduced its volume, and the DIF originally broke the 0 axis, but the K-line has returned below 1800, hindering the bulls. The DIF and DEA are still maintaining a bullish trend upwards, while the K-line remains in the Bollinger Bands upper track below 1840, with the overall trend continuously impacting the upper resistance level, so be prepared psychologically for a breakout.
The four-hour K-line has entered an ascending channel, with the bottom continuously being raised and the top resistance level also moving upwards. The EMA30 support has reached 1770, and the ascending trend line resistance level to watch is 1870. MACD shows a top divergence with reduced volume, indicating that bullish momentum persists. The DIF and DEA are expanding downwards at high levels, while the Bollinger Bands are consolidating at high levels. The upper track resistance level to watch is 1825, and the lower track support level to watch is 1760. Therefore, entry points for both bulls and bears can be referenced with a focus on long positions at lower levels, while for shorts, the pressure above 1850 should be noted.
Short-term reference: Safety first. Remember that there is no 100% in the market, so always set a stop-loss. The goal is to minimize losses and maximize profits.
For the northward trial position, the entry point is 1760 to 1740, with a defense at 1720, stop-loss at 30 points, and a target of 1800 to 1840, with a breakout target of 1870.
For the southward trial position, the entry point is 1850 to 1900, with a defense at 1950, stop-loss at 30 points, and a target of 1800 to 1750, with a breakout target of 1700.
Shendan is continuously being deployed...
Leaving below 999 up 🚗
