Crypto Circle Academician: Ethereum Breaks Key Resistance at 5.9, Surge Towards New Highs! Latest Market Analysis Reference
Current price of Ethereum is 2065, and it is currently 3:30 AM Beijing time. The prolonged period of stagnation lasting more than half a month has ended, and the anticipated bottom-hunting did not materialize, leading to a period of catch-up, directly pushing the price back above the 2000 mark. To put it bluntly, if the catch-up mode is activated, there is a high probability of hitting 2800. Spot traders are in for a treat; those trading ultra-short contracts don't need to look too far, just focus on quick entries and exits for better liquidity.
The daily candlestick chart shows a low of 1810 and a high of 2075, breaking the EMA90 trend resistance at 2060. The next major trend resistance to watch is the EMA120 level, which is at the 2200 mark. Currently, the candlestick is blocked at the EMA90, and it’s important to watch whether it can stabilize here. The MACD shows significant volume increase, and once the candlestick stabilizes within the Bollinger Bands, it has broken the upper Bollinger Band at 1985. Overall, the bullish trend has not yet ended.
The four-hour candlestick chart shows consecutive bullish candles. The EMA trend indicators are all showing a bullish trend. The EMA15 fast line support has risen to 1900 and continues to stretch upward, expected to form a new support point around 1950. The MACD has shown five consecutive volume increases with an upward trend, and once the Bollinger Bands open, the candlestick directly stands on the upper band support and expands upward. The mid-term market is in an extreme overbought condition, and there is still significant room for the larger trend. In the short-term, focus on the dense area above 2130. Short traders might consider testing positions after reaching this area, while temporarily focusing on pullback support for the long side.
Short-term Reference: Safety first. Remember that markets are never 100% predictable, so always set proper stop-losses. The goal is to minimize losses and maximize gains.
Potential entry point: Confirm buy after breaking 2075, with a stop-loss set at 1980. If it falls below this level, the trend will reverse.
Potential exit point: 2132, where key resistance exists with selling pressure. Stop-loss should be set at 2200. If it breaks this level, an unobstructed mode is activated.
For northern trial entry points: 2020 to 2000, defend at 1980, stop-loss 30 points, target 2050 to 2100, break out at 2130.
For southern trial entry points: 2130 to 2160, defend at 2190, stop-loss 30 points, target 2090 to 2060, break out at 2000.
Specific operations should be based on real-time market data. Recommendations are for reference only; risks are to be borne by the individual.