The hourly trend is stronger than Bitcoin, and the strong control methods are quite obvious. The price is attempting to break through the previous high near 2738 again, but it has not succeeded.
The daily line is a bullish candle with an upper shadow. The trading volume is twice the average daily trading volume of the last three days, but it still falls within the normal trading volume range.
If today closes with a bullish candle, then the price will attempt to break through the 2800 round number. If the MACD forms a golden cross, it would indicate a bullish trend that could push the price further up to around 2900.
It is important to note that the area between 2800-2900 is a neckline resistance zone in the long-term cycle. According to Ethereum's current behavior, the likelihood of breaking through the 2900 resistance in one go is low. When reaching this area, a test will occur, but it will still need to drop back for a retest.
Currently, the 6-hour level is no longer sufficient to support the price increase; it has upgraded to a 12-hour level of increase. After reaching a new high, a divergence pattern will appear on the 12-hour chart, which will also require a drop for a retest.
A short position can be opened around 2860, and then go long again around 2400.
From Ethereum's liquidation heat map, it can be seen that
the price is rising, with a large number of substantial short positions waiting to be liquidated in the 2700-2880 area.
the price is falling, with a large number of substantial and super-large long positions waiting to be liquidated in the 2636-2400 area.
