Ethereum adjustment at the terminal faces a directional choice, are you ready?
From the market trend, the price has repeatedly tested the middle band of the Bollinger Bands from Monday to Wednesday this week but failed to break through successfully, ultimately closing with a bearish candlestick. This phenomenon suggests that the pressure from the middle band of the Bollinger Bands may further strengthen. If it can effectively break through the middle band resistance, the price is expected to rise to the 2700 - 2900 range; conversely, the bearish forces may further release, and there is a risk of the price falling below the lower band. If it effectively drops below 2400, the support level will test 2100. Current attention should remain focused on market turning points.
In the 4-hour cycle chart, the price trend is still under the pressure of a short-term descending correction trend line, while the short-term moving average system has formed a death cross, clearly releasing bearish signals. The market is at a critical decision-making stage, with short-term resistance at 2680 and support at 2500. If the resistance level is broken upward, bullish targets can be seen at 2880; if the support level is broken downward, bearish targets point to 2300.
For short-term trading today, it is recommended to adopt a high sell and low buy trading strategy within the fluctuation range of 2880 - 2300 to seize wave opportunities.
Disclaimer: The content of this article is for information sharing only and does not constitute investment advice. The cryptocurrency market is highly risky and volatile, so investment decisions should be made with caution.
