Sunday Afternoon Thoughts: Analysis of the Latest Ethereum Market
Looking back at yesterday's long positions, Ethereum provided us with the expected pullback near the 1810 level at midnight, followed by a rebound all the way up to the high point of 1847. The morning saw the market moving within a range without significant fluctuations, but weekend trading usually has little volatility. Currently, the market is stabilizing around the 1840 level. We will continue to maintain a long position this afternoon.
The 4-hour chart for Ethereum showed a dip and then a recovery yesterday, reclaiming the previous losses from the decline. Meanwhile, the daily chart also shows a small bullish candlestick. The pullback is not strong, leading the lower Bollinger Band to start flattening. The hourly Bollinger Bands have already narrowed, indicating a wide range of fluctuations. The short-term chart highlights the importance of support around the 1700 level. If it doesn't break below, we can expect continued high-level fluctuations, with appropriate short positions in the short term, and adjustments if it breaks below.
Trading Suggestions:
Long positions in the 1790-1820 range, with a target near 1880.
