Yesterday we mentioned that the hourly trend of Ethereum is stronger than that of Bitcoin, with a clear strong control technique. Although the short-term hourly trend may be influenced by Bitcoin, after a brief drop last night, it was quickly pulled back up.
The reason why Bitcoin's price appears stable during high fluctuations is partly due to the accumulation and upward drive of Ethereum.
The daily level shows a small bullish candle with a short lower shadow, and the trading volume is about two-thirds of the previous day. The daily MA30 line maintains an upward trend, so the daily level is still in an upward trend, and the MACD shows weakening downward momentum above the zero line.
We also mentioned yesterday that with a bullish close on the daily chart, it is likely to form an upward momentum. Today, it is highly likely to break upwards, resulting in a longer bullish candle on the daily level, heading towards the 2800-2900 range. It is important to note the potential for a quick price drop after a high surge.
A breakout above 2740 allows for a long position, with take profit around 2850-2900.
The daily level resistance points are 2880-3066-3300, and support points are 2540-2430-2310-2200.
From Ethereum's liquidation heat map, it can be seen that
the price is rising, with a large number of significant short positions waiting for liquidation in the 2712-2780 range.
the price is falling, with a large number of significant long positions waiting for liquidation in the 2608-2444 range.
