[One, Review of Yesterday's Trend (May 1)]
ETH formed a small upward candle with fluctuations and consolidation yesterday, with the price range narrowing and the bulls clearly showing intentions to build a bottom. From the chart, the consecutive lower lows have gradually risen, and the bottom lifting structure is stable. The current price is fluctuating around the 1845 area, waiting for a key breakout.
[Two, Technical Full Cycle Analysis]
[Daily Level] - Three consecutive upward candles gathering strength, the pattern is bullish friendly
K-line: The last three days have formed a 'stair-step rise', with a complete structure of consecutive upward candles. Yesterday closed with a small upward candle, indicating a clear intention of the bulls to control the market;
Moving Average: EMA7 has crossed above EMA30, with short-period moving averages showing a bullish arrangement, forming good support for the price;
BOLL Channel: The middle band has crossed above, with prices running in the middle-upper band range, showing intentions to break the upper band;
MACD: Continues to increase in volume after a golden cross below the zero line, with red bars continuing, and momentum is released gently;
Comprehensive judgment: The daily chart is in a strong accumulation and breakout phase, with room for further upward movement.
[Four-hour Level] - Platform consolidation, waiting for a breakthrough opportunity
K-line: Multiple small body K-lines in continuous horizontal trading, forming an 'ascending triangle pattern';
EMA System: EMA5 and EMA20 are closely rising, with a clear short-term direction;
BOLL: The Bollinger Bands are continuously narrowing, and the market is about to choose a direction, currently leaning towards a breakout on the upper band;
RSI: Stably climbing in the mid-high range, not yet entering overbought territory, with further upward potential;
In summary: The bulls are fully gathering strength, and if the volume increases and breaks above 1860, it will open up the upward channel.
[One-hour Level] - Short-term fluctuations are biased to the upside, pullbacks are opportunities
K-line: Price is close to the middle band of the Bollinger Bands, with support during short-term consolidation;
EMA: Short-term EMA5/10/30 maintains a binding state and may turn at any time;
KDJ: Entered the low region, with expectations of a golden cross, supporting a short-term rebound;
Trading volume: Decreasing volume with fluctuations, waiting for capital to enter and push direction;
Conclusion: The pullback on the hourly chart is a low-buy opportunity, and a breakout needs volume confirmation.
[Three, Key Levels Reference and Trading Suggestions]
Opening position: 1847.7
First resistance level: 1877.4
Second resistance level: 1906.0
Stop loss level: 1820.0
