ETH market notes｜The oscillation period is very much like bargaining in a vegetable market.
Keep a close eye on these signals! First, look at the recent market trends.
There was a clear drop before, and after stabilizing around 2433.8, it started to bounce around like a naughty child—entering the oscillation mode!
The moving averages are tangled together, like a messy ball of yarn. In the short term, neither side has gained an absolute upper hand, and they are still pulling against each other.
Let's talk about market activity.
The current trading volume is 247,453.3120, with estimated volume fluctuating. You can sense that funds are quietly contesting, but overall, it is not particularly lively.
Let's talk about technical indicators:
RSI1 has reached 70.02, almost hitting the 'overbought warning line'. Short-term upward momentum may soon reach its limit, so pay attention to potential pullbacks.
MACD has shown a small surprise; DIF has crossed DEA, and the green bars have turned into red bars, indicating signs of a rebound, but whether this strength can be sustained is still questionable.
Personally, I feel that this oscillating market is just like bargaining in a vegetable market.
Key resistance levels are like 'psychological price levels': if they can break through steadily, there might be an upward surge; but if the volume doesn't follow, it's also normal to see a pullback after being overbought.
By the way, during these volatile phases, be careful not to blindly follow the crowd like binge-watching a series, and don’t panic and trade at the first sign of a drop. Let's stay calm and wait until we see the trend clearly before acting. After all, market changes are faster than the weather; more observation and pondering help avoid detours.
Finally, just a small note: the market has recently been like opening a blind box. It's easy to get entangled alone, but by paying attention and discussing market thoughts and trends daily, we can rationally enjoy the process together.
If you must operate,
My personal suggestion is
ETH range trading strategy: prediction of breakout under protective support.
ETH range trading strategy: prediction of breakout under support at 2500.
ETH has been oscillating in the range of 2550-2500 since the previous drop. Although the 50-point fluctuation space is suitable for scalping, the trading value is limited during the quiet weekend session. Notably, the 2500 level has been tested multiple times without breaking, indicating active protective funds in the battle between bulls and bears, while there are a lot of short liquidation chips above 2580.
As market liquidity increases on Monday, the evening of the U.S. stock market opening may become a key point for a breakout: ETH may leverage this to break through 2580, triggering short liquidations, followed by a pullback. It is recommended to consider entering long positions near 2500 today to capture the pre-breakout swing opportunities!
You can also operate short positions around 2580-2600, with a take profit target at 2500.
