Crypto Circle Scholar: Ethereum may hit a short-term ceiling at 6.7, can the bears defeat the bulls in one go? Latest market analysis reference
Current price of Ethereum is 2490, it's now 1:30 AM Beijing time, after a week of high-level southward hunting, finally hitting the target at 2450 to take profits. The main force has initially entered again at 2400, but the chips entering are not many. Think from the perspective of the main force: when would you strike again after taking profits at a high level? It's still early, the southward movement hasn't ended. A pullback at 2500 is an opportunity for further southward movement, focusing on the strength of the upper pressure level.
Daily K-line highest 2530, lowest 2379, just hit the EMA15 trend fast line pressure level and fell back, indicating that the pressure level is effective in the short term, and southward testing is possible. Pay attention to the support in the dense area of trend indicators from 2330 to 2280. The MACD shows continuous top divergence leading to a decline, with reduced volume and increased chips. The DIF and DEA are close to the 0 axis, and the K-line is hovering around the lower Bollinger Band support at 2430. In the short term, if it wants to impact the middle Bollinger Band at 2560, southward traders can set their short-term stop-loss above the middle track, while northward traders can focus on taking profits if the middle track is not broken.
Four-hour K-line shows that the main force has continuously pushed high for five waves and has pulled back four times to reduce chips in hand. Retail investors who bought at high levels were liquidated yesterday, largely due to the recent flood of fake news about market recovery. The K-line is currently facing the EMA120 trend first pressure at 2520. If southward movement is effective, it can be held, focusing on the top pressure level of the trend at 2560. The MACD shows reduced volume, and the DIF and DEA are contracting below the 0 axis. The Bollinger Band is opening; overall, a short-term rebound meets obvious resistance, which is an opportunity for southward movement. Currently, there is no consideration for going long; the bearish trend is not over yet.
Short-term reference: Safety first; remember that the market is never 100% certain, so always set stop-losses. The goal is to minimize losses while maximizing profits.
Southward testing point 2500 to 2530 long, defend at 2560, stop-loss 30 points, target at 2450 to 2400, breaking point at 2380 to 2350.
Northward testing point 2350 to 2330 short, defend at 2280 short, stop-loss 30 points, target at 2400 to 2450, breaking point at 2500 to 2550.
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