Last night, Ethereum did not experience significant fluctuations. Instead, following a large transaction, it first encountered a sharp drop before quickly surging upwards. It did not display the waterfall pattern seen yesterday, and it's clear that there is still some support at the bottom. The news in the early morning did not break this barrier, which is unfortunate as Ethereum fell nearly 30 points yesterday, and currently, the price is around 1815.
From the one-hour chart of Ethereum, the price is close to the middle band of the Bollinger Bands with an upward trend towards the upper band. If it breaks through the upper band, it will indicate a bullish dominance; the KDJ indicator shows all three lines diverging upwards, with K and J values greater than D, indicating strengthening bullish momentum; the MACD indicator shows the DIF line crossing above the DEA line, forming a golden cross trend, and the green histogram bars are shortening, indicating weakening bearish momentum and strengthening bullish momentum. Overall, the technical indicators are releasing a moderately bullish signal, with bulls gradually taking the lead. The price is expected to oscillate upwards in the short term, but attention must still be paid to changes in indicators and breakthroughs at key resistance levels.
Ethereum strategy: Buy around 1800, target 1850
