Short-term Analysis of ETH Market (Current Price: 2571)
Market Overview:
ETH has been quite strong recently, currently priced at 2571, down about 2.9% from the previous value (2647), still hovering at a high level, and the bullish sentiment hasn't faded. The bearish signals in the candlestick chart have weakened, moving averages are somewhat flat, and the upward momentum is slightly catching its breath, caution is needed for a pullback.
Technical Quick Review:
Four-hour: Price is oscillating between 2550-2600, volume is slightly shrinking, the moving averages (MA5, MA20) show a weak golden cross, leaning towards consolidation in the short term.
One-hour: Price is around 2570, moving averages (MA5, MA10) are flat; if it breaks below 2550, bearish sentiment may intensify.
Key Levels:
Support: 2550 (recent low), down to 2500.
Resistance: 2600 (short-term high), up to 2700.
Trend Prediction:
If it holds above 2550 and breaks through 2600, it could reach 2700; if it falls below 2550, it might drop to 2500. Volume is key; without volume, don't expect a big rise.
Operational Suggestions:
If it breaks through 2600, a small chase is advisable, target 2700, with a stop-loss below 2550.
If it drops to 2550 or 2500 and stabilizes, it could be a buy, target 2600.
Be cautious with low volume, avoid blind chasing.
Following BTC's Trend:
Current BTC price is 102730, fluctuating above 100000. If BTC pushes to 105000, ETH could follow to 2700; if it falls below 100000, ETH might slide to 2500. In the short term, it's looking like consolidation, holding above 2550 is the most important.