Is $2500 within reach? Key battle for ETH today
From this ETH 4-hour chart, the current price is oscillating around 2457, with short-term resistance at 2500-2600 above, and support at 2400-2300 below. The 7-day and 30-day moving averages are both below the current price, indicating that the overall trend hasn't deteriorated yet. However, the RSI's 6-hour indicator has surged to 80, suggesting a potential short-term pullback risk. Although the MACD has shown a golden cross, the bars are not strong enough, and the bullish momentum is not too aggressive.
Considering the news front, today the crypto ETF is likely to follow the broader market's oscillating trend. If ETH can hold above 2450, it may test 2500;
But if it breaks below the intraday low of 2435, it may retest the 2400 level or even the 2380 EMA30 support. Recently, the market has been quite sensitive to ETF news, so it's advisable to monitor the capital flow after the US stock market opens.
In simple terms: the current position is neither up nor down; don't rush to chase the price. Wait for a pullback to around 2400 to consider a buy, or wait for a strong confirmation above 2500 before following in. Today's market should be dominated by observation; don't make any rash moves.
Next, I will continue to strategize with precision orders. Rather than fumbling through and missing the best entry and exit points leading to holding losses, it would be better to follow my lead. If you agree, feel free to join directly.
