Ethereum (ETH) Market Outlook: Key Levels and Strategy Analysis.
As of now, the Ethereum price is $1780, with a slight decline during the period from 20:00 to 22:00 last night.
Short-term resistance is at $1820; the 138.2% Fibonacci level corresponds to $1860; the 161.8% Fibonacci level is $1899.
These price levels act as 'checkpoints' for upward price movement and may hinder the rise of Ethereum's price.
The 100% retracement level is at $1797; the 78.6% retracement level is $1761; the 50% retracement level is $1714. They serve as 'cushions' during price declines and may prevent further downward movement.
If the golden cross continues, Ethereum has the momentum for a rebound; if a death cross forms, the risk of a correction will significantly increase.
Current values have not entered the overbought zone, but once approaching 70, investors should be wary of the correction risk.
The current trading volume is at a normal level; if it can break through key price levels with increased volume, the reliability of subsequent price movements will be higher.
When Ethereum's price successfully stabilizes at $1820 and breaks through $1860, it is expected to enter a range-bound upward mode, with a target range of $1899 - $1940.
When a MACD golden cross appears along with increased trading volume, investors can consider opening long positions with a small amount.
If the price falls below $1797, it is likely to enter a correction phase, possibly testing $1761 (78.6% support level) or even dropping to $1714 (50% support level).
When the RSI enters the overbought zone or the MACD forms a death cross, short-term investors are advised to wait and see.
If the price breaks through $1820, consider going long, setting a stop-loss at $1797, and targeting $1860. If the price falls below $1797, it is recommended to wait and look for buying opportunities when the price retraces to $1761 or $1714.
If Ethereum can stabilize above $1860, it indicates that the trend may strengthen, and investors can consider gradually entering positions. However, if the price falls back below $1714, one should be cautious of a potentially deeper correction.
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