The weekly chart shows a large bullish candle with an increase of over 45%, and the trading volume is slightly more than twice that of the previous week, indicating a strong upward trend with increased volume. This represents strong bullish power, and the price will likely continue to rise this week before experiencing a pullback.
The weekly MA30 line has shifted from a downward trend to a flat trend. The price is still below the MA30 line, so the MA30 line will continue to be a resistance level in the near term, with the price around 2695.
The weekly MACD is showing weakened downward momentum slightly far below the zero axis, which is turning into a bullish crossover of the fast and slow lines, indicating an increase in upward momentum.
The weekly level cannot directly surge upward in one go; the 45% increase in a single week has consumed a significant amount of bullish strength, and the bears will take advantage of the bullish power exhaustion to counterattack.
The best scenario going forward is to have a surge at the weekly level, followed by a wide-range consolidation for one or two weeks, and then continue to rise after gathering strength.
The rebound at the weekly level has already started, and the trend is beginning to change. However, to truly confirm a trend reversal, we must wait for the price to break through and stay above the weekly MA30 for three consecutive weeks.
The daily chart shows a small bearish candle, with trading volume slightly less than the previous day and nearly half of that during the previous few days' bullish rise. Weekend liquidity is poor, and price fluctuations with low trading volume are normal.
The daily MA30 line maintains an upward trend, and the MACD shows a weakening upward momentum not far above the zero axis.
Currently, after briefly breaking the $2600 integer level, the price is consolidating at a high level, somewhat far from the daily MA30 line, while also approaching the weekly MA30 line. After the large bullish candle at the weekly level has led to a short-term upward trend this week, the price is expected to fall back, so we need to be cautious of potential false breakouts at the daily level.
At this time, do not chase the highs; wait for the consolidation to end or for the price to pull back to support levels to continue going long. Short-term short positions can be taken, but be sure to wait for a peak before trying, and make sure to take profits in a timely manner.
Ethereum is currently experiencing a rebound at the 12-hour level, and the 12-hour MACD is showing a continuous weakening of upward momentum.
At the hourly level, you can go long at the 1-hour, 2-hour, and 4-hour EMA52 (2441-2320-2160).
Daily level resistance at 2695-2890-3065-3260, with support at 2440-2240-2160-2000.
From the Ethereum liquidation heatmap, we can see a significant accumulation of short positions, while there is also a large accumulation of long positions below. Prices tend to flow towards areas with better cost-performance to seize contract liquidity.
Prices are rising, and there are still a large number of significant long positions waiting to be liquidated in the 2528-2640 area.
Prices are falling, and there are still a large number of significant and extremely large long positions waiting to be liquidated in the 2428-2156 area, with key liquidation points around 2260.
