Signs of a Surge? $ETH Danger Signals Sound Alarm!
I find ETH's trend a bit precarious - the price is hovering around 2495 in the 4-hour chart. Although the short-term moving averages are still supporting from below, indicating that the bulls are not completely down and out, the RSI has already skyrocketed to 75! It's like someone running so fast that their face turns pale, and they could collapse at any moment. What worries me even more is the MACD: the red bars are still climbing up, making it seem bullish on the surface, but the DIF and DEA lines are too far apart, resembling the gas pedal being floored while the brake lights suddenly come on; it could very well lead to an emergency stop in the next second!
In the current situation, unless the market suddenly throws a black swan event, ETH is likely to oscillate at high levels, washing out retail investors. My judgment is clear: if it can hold the 2440 level, which has been a lifeline for the past 7 days, there’s still a chance to push upwards; but if it breaks down from here, don’t be surprised if it plunges directly towards 2400!
In terms of trading, I absolutely will not chase the highs - I’d rather wait for it to pull back to the moving averages before taking action. For spot trading, hold steady and don’t make rash moves; for contracts, you must have your stop-loss firmly set on the screen. At this position, the potential gains upward are hardly worth the risk of a downward plunge!
Prepare in advance for potential coins, click on the avatar to follow, and keep up with my rhythm to make a fortune in this round of the bull market!
