Ethereum 4-Hour Market Analysis and Trading Suggestions
1. Current Market Status
This market is quite interesting:
Opening at 2608, peaking at 2644, dropping to a low of 2566, closing at 2573
Ultimately down 1.34% (34.97 points), with a volatility of 3.07%
It closed with a long upper shadow candle, indicating significant selling pressure above
Key levels to watch closely:
Resistance above at 2707 (Bollinger upper band)
Support below at 2410 (Bollinger lower band)
Short-term bullish-bearish dividing line at 2589 (mid-band position)
2. Technical Indicators Interpretation
Bollinger Bands are clearly opening:
Upper band at 2707, lower band at 2410, the channel is wide
Price is below the mid-band, showing a weak trend
MACD Indicator:
DIF 70.15, DEA 84.40, Histogram -28.51
Death cross state, bearish momentum is still being released
Trading Volume:
Volume clearly increased during the decline
Main capital is offloading
3. Today's Trend Forecast
To break upwards needs:
First stand above the mid-band at 2589
Then challenge the resistance at 2707
Downward breaking risk:
Breaking below the previous low of 2566
May test strong support at 2410
Most likely movement:
First rebound to test the pressure at 2589
If not, continue to explore the downside
4. Practical Trading Suggestions
Short-term Strategy:
Aggressive traders: Short near 2589, stop loss at 2620, target at 2410
Conservative traders: Wait for a rebound to 2650-2707 range to lay out short positions
Spot Strategy:
Don’t rush to bottom fish
Wait to build positions in the 2400-2450 range
Risk Reminder:
The trend is currently downward
Be cautious when going long
Heavy positions can lead to significant losses
5. Summary
Ethereum's 4-hour level is very weak, with 2589 as the dividing line between bullish and bearish. It is recommended to focus on short positions, and don’t easily try to catch the bottom. Consider medium to long-term positioning when it drops to around 2400. Remember: Trend is king, don’t go against the market!
As the market continues to change, we need to closely monitor market signals and seize new entry opportunities. Like + comment + follow, let’s traverse the bull market and secure our position to capture this major opportunity!
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