Crypto Circle Scholar: Is the bearish sentiment strong for Ethereum at 5.8? Can the bulls regain momentum? Latest market analysis reference
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The current price of Ethereum is 1805. It is currently 3:30 AM Beijing time. Let's review first. Yesterday, it rose near 1750, and before this article was published, it reached a maximum of 1850. This is a typical case of the main force driving prices up to sell off, which has happened many times. Whether it is moving south or north, this trend is not uncommon, so do not open positions casually. Wait for key points and patterns to appear before entering the market; this way, the winning probability will be higher.
The daily K-line reached a maximum of 1850 and a minimum of 1785, just standing at the support of the EMA trend indicator at 1785. The overall trend has entered a sideways contraction phase, including larger trend indicators also contracting. The MACD volume is decreasing, and if the K-line cannot hold above 1780, the DIF and DEA will form a death cross, strengthening the bearish trend. The upper track is at 1935, while the lower track support focuses on 1760, with both resistance and support points moving downward.
The four-hour K-line shows a door pattern. After the main force pushed prices up, it started to pull back. It has now fallen into the EMA trend indicator, facing resistance at EMA90 support of 1787. The MACD volume is decreasing, and the DIF and DEA failed to break the 0 axis line. The upper Bollinger Band focuses on 1850, and the lower band focuses on 1770. Overall, the trend is heavily bearish, and we cannot rule out the existence of a strong bearish force. Friends wanting to catch the bottom can wait and see if there are opportunities to buy at the bottom.
Short-term reference: Safety first! Remember that the market is not 100% certain, so always use stop-loss orders. Safety first, small losses, and big profits are the goal.
For northward trial positions, the entry point is 1760 to 1780, with a defense at 1740, stop-loss at 30 points, and target looking at 1800 to 1840. If it breaks, look at 1870.
For southward trial positions, the entry point is 1830 to 1850, with a defense at 1870, stop-loss at 30 points, and target looking at 1800 to 1790. If it breaks, look at 1760.
Specific operations depend on real-time data from the market. For more information, you can consult the author. There may be delays in article publication, and it is recommended for reference only; the risk is self-borne. $ETH