The weekly line is a small bullish candle resembling a doji, with trading volume around two-thirds of the previous week, indicating a normal trading volume pattern.
From the K-line combination at the weekly level, the bottom pattern has formed, but the weekly MA30 line is still in a downward trend, and the price is relatively far from the MA30 line, indicating a need for a rebound after an oversell. The MACD shows a weakening of downward momentum below the zero axis; if a long bullish candle is formed this week, the fast and slow lines of the MACD will form a golden cross, suggesting that the price will continue to rise in the coming weeks.
The upward trend at the weekly level for Bitcoin has been confirmed, so Ethereum will definitely follow. Currently, Ethereum is showing relatively weak performance, but there may be a strong upward breakout later.
The target position for the upward trend at the weekly level is the 2300-2500 area, requiring patience.
The daily line is a small bearish candle resembling a doji, with trading volume basically flat compared to the previous day, indicating a contraction in volatility.
Currently, the price is still fluctuating near the daily EMA52 line, with a relatively small amplitude of fluctuations at the daily level.
The daily MA30 line is still maintaining a flat trend, with no obvious upward or downward trend appearing.
The MACD is showing a slow weakening of upward momentum near the zero axis, with no clear direction.
Currently, Ethereum is still following Bitcoin at the hourly level; this position could go up or down, and in the short term, it depends on how Bitcoin moves.
The best scenario is for Bitcoin to quickly drop at the hourly level, returning to the 8-hour support position, with Ethereum following for a quick rebound after a downward spike, closing the day with a large bullish candle, and then taking over from Bitcoin to bring a wave of daily-level increases, charging towards around 2100 before adjusting downward at the daily level.
Daily level resistance at 2000-2120-2310, support at 1760-1690-1540-1460
From the Ethereum liquidation heat map, it can be seen that
the price is rising, with a large number of large and extra-large short positions waiting for liquidation in the 1850-1915 area
the price is falling, and there are still a large number of large and extra-large long positions waiting for liquidation in the 1796-1748 area
