The hourly trend is basically synchronized with Bitcoin, but the fluctuations are much greater. Similarly, there is a downward fluctuation during the day, but the upward movement started a little earlier than Bitcoin, and it has set a recent new high.
Currently, it is showing a 1-hour rebound within a daily rebound that has not yet activated and is returning to the 1-hour EMA52 line. After some fluctuations at the 1-hour level here, there will be another rebound, provided that Bitcoin does not drop. If Bitcoin adjusts downwards, then Ethereum will also follow suit and drop to the 2-4 hour support before rebounding (2683-2636).
The daily line is a small bearish candlestick with upper and lower shadows, and the trading volume has decreased by about a quarter compared to the previous day, while still maintaining a high volume state. The price has broken through the red box area, and after stabilizing, there is still room for further upward movement, targeting the 2960-3050 area. If it cannot stabilize, it will return to the red box area for wide fluctuations. As long as Bitcoin does not drop, Ethereum can still be expected to continue climbing.
Daily resistance levels are 2960-3060-3240, and support levels are 2680-2580-2350-2200-2130.
From the Ethereum liquidation heat map data, it can be seen that
The price is rising, with a large number of large and extra-large short orders waiting for liquidation in the 2836-2976 area.
The price is falling, with a large number of large and extra-large long orders waiting for liquidation in the 2736-2516 area.
