The four-hour level of ETH is currently in a tug-of-war between bulls and bears!
The current price is $493.65, after peaking at $502.96 in the morning and then retreating. This position is just stuck near the upper Bollinger Band at $496.08, indicating significant pressure above. However, the middle Bollinger Band at $471.64 serves as strong support, and the overall channel remains open upwards, with the trend still leaning bullish.
Two key signals have appeared on the technical front: the RSI has reached 74.36, entering the overbought zone, indicating a risk of short-term pullback; but the MACD indicator remains strong, with DIF at 9.59 firmly above DEA at 7.26, and the red energy bars continue to expand, indicating that the main capital is still in the market. Special attention should be paid to the large bullish candle with volume on June 17, as the range of 490-500 has become a new battleground for bulls and bears.
In terms of operations, aggressive players can gradually build positions in the 490-495 range, with a stop loss below 485 and a target aimed at the previous high of $520; conservatives are advised to wait for one of two situations — either a strong breakout above 505 with volume to confirm strength, or a pullback to stabilize around 475 before entering again. Key attention should be paid to the four-hour close at 8 PM tonight; if it remains above 495, there could be further opportunities ahead!
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