Crypto Circle Academician: As of May 1, Ethereum's double line support is effective, and a major market trend is brewing! Latest market analysis reference
Ethereum's current price is 1785, and it is currently 2:30 AM Beijing time. Shorts have not dared to enter the market, but longs are hesitant as well? The daily K-line retraced to 1730, which is currently the best entry point. The daily K-line just retraced to the intersection of the EMA30 and 15 trend lines. As long as this position holds, bulls will not disappear, and bears will find it difficult to make a move. Patiently hold on; there is currently no better entry point than 1730, so after reaching around 1840, do not exit completely but leave a portion of your position to continue holding.
The daily K-line's highest point was 1816, the lowest was 1730. The EMA trend indicator at a larger scale is still bearish, while at a smaller scale it's contracting. There is a short-term trend of pullback and upward movement. The MACD has continuously decreased in volume, showing a stepped volume pattern, indicating that bullish momentum is starting to weaken. The divergence between DIF and DEA continues, with the upper pressure level of the Bollinger Bands at 1880 and the mid-level support at 1680. The market is favorable, but the technical aspects are moving bearish. This divergence is not friendly to retail investors, especially after the trend is broken.
On the four-hour K-line, a rising flag pattern has shown a false break. The K-line tested below the EMA120 trend line and then retraced upwards, indicating that the larger trend support is effective. The 1730 position is crucial. The MACD has continuously decreased in volume while accumulating positions, and the DIF and DEA are expanding at high levels. The K-line has once again shown a false break below the lower Bollinger Band at 1765, and now it has returned to the channel. We have reason to believe that this wave of market is a false bearish trend and not a vacuum. Maintain good defense and set stop-losses; just be patient and hold on.
Short-term reference: Safety first. Remember that the market is never 100% certain, so always set stop-losses. Safety first; small losses and large profits are the goal.
For northern entry points, try 1740 to 1720, with a defense at 1690 and a stop-loss of 30 points. Target looking at 1800 to 1840, if broken, look at 1870.
For southern entry points, try 1810 to 1850, with a defense at 1850 and a stop-loss of 30 points. Target looking at 1800 to 1750, if broken, look at 1700.
Specific operations should be based on real-time market data. For more detailed information, you can consult the author. The article may have a delay in publishing, and it's recommended for reference only; risks are borne by yourself.
