ETH price fluctuates around $1800, showing significant volatility in the short term, heavily influenced by whale behavior and market sentiment. Currently, the trend is focused on the lower support level of 1750.
【Analysis of the four-hour Ethereum price trend】
Candlestick Pattern:
Recent prices have been fluctuating around 1800, forming a relatively clear range of oscillation. In the 4-hour timeframe, multiple long upper and lower shadows have appeared, indicating market uncertainty and repeated testing of support and resistance levels.
Technical Indicators:
MACD: The current MACD is in the negative region, and the DIF line is below the DEA line, indicating that there is still some downward pressure in the short term, but attention should be paid to whether a bottom divergence signal will appear.
RSI: The RSI value is hovering between 40 and 50, not entering the overbought or oversold zones, showing that there is currently no extreme sentiment in the market.
EMA: EMA7 has fallen below EMA30, indicating a weak short-term trend; however, EMA120 remains upward, suggesting a bullish long-term trend. Note that there may be support around 1790.
Trading Volume:
Daily trading volume has decreased in recent days, indicating a decline in market participation and strong wait-and-see sentiment. In the 4-hour timeframe, trading volume has gradually decreased after significant fluctuations, suggesting that the market is looking for a new direction.
5/6 Evening Ethereum Stable Yield Strategy:
It is recommended to enter long positions around 1760-1780 for Ethereum, with target points: 1820-1850
If the trend continues to decline, it is suggested to add to long positions at 1740, with target points remaining unchanged!