Thursday Afternoon Ethereum Latest Market Analysis
Looking back at last night, we similarly provided a bullish strategy for Ethereum. In the early morning hours, there were two pullbacks near the 1830 level. Friends who followed the strategy should have gained quite a bit. We continue to maintain a bullish outlook during the afternoon. The short-term market continues to be treated with fluctuations similar to Bitcoin, and we can continue to participate around the high and low of the range.
The 4-hour chart of Ethereum shows that it was pressured down from the upper band to the middle band, in a fluctuating market. The contraction state of the Bollinger Bands is the best operational range, looking to short at the upper band and long at the lower band. Currently, the Bollinger Bands show slight signs of opening, and from a structural perspective, yesterday's touch of the lower band did not rebound, showing slight weakness. However, the dollar structure chart also appears somewhat weak, making the sustainability of short-term price declines a concern.
Operational Advice
Ethereum in the 1770-1800 range for long positions, target 1880.
