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Current price: 2578.03.
Support levels: The support area marked by blue lines in the image is concentrated around 2520-2550, specifically including 2522.05 (81.0% level), 2538.13 (64.1% level), and 2548.08 (47.5% level). These are potential retracement target areas.
Resistance levels: The resistance level marked by blue lines in the image is at 2587.73 (near the 0.0% level), and 2600 is an important psychological barrier (not directly marked in the image, but 2587.73 is a recent key resistance).
Fibonacci levels: The percentages displayed repeatedly in the image (such as 17.8% at 2571.16, 33.2% at 2559.19) indicate the application of a Fibonacci retracement tool, commonly used to identify support and resistance. The current price of 2578.03 is above the 17.8% level (2571.16) but below the 0.0% level (2584.99), suggesting short-term upward potential but also facing resistance.
Other elements: The yellow watershed line may indicate a trend boundary, and the purple box and red-green arrows mark recent fluctuations, but due to insufficient image details, these signals cannot be specifically interpreted. The overall background is dark, with alternating red and green candlesticks, showing price fluctuations.
Impact of the surge: You mentioned 'a surge of thirty points', assuming it is a rapid rise from a low point (such as around 2548) to 2578.03, which is usually seen as a strong short-term signal indicating buyer involvement. However, after the surge, the market may see profit-taking (sell-off) or a pullback, especially near resistance levels.
Analysis of the evening trend
Based on technical analysis principles, the following is an assessment of ETH's possible direction in the evening. The key factor is whether the 2587.73 resistance level can be broken:
Bullish scenario (the possibility of breaking above 2600):
Probability: Medium to high (about 50-60%). The reasons are as follows:
Currently, after a surge of 30 points, the price is at 2578.03, only about 10 points away from the resistance level of 2587.73. If buying pressure continues (such as due to market optimism or positive external news), the price may quickly test 2587.73.
After breaking through 2587.73, the next target is naturally 2600 (psychological barrier). The Fibonacci levels in the image show that the 0.0% level is at 2584.99, and after breaking through, it may open up upward space, moving towards higher resistance (such as 2610-2620).
The yellow watershed line and the purple box/arrows may indicate a recent upward trend (due to the mixed red and green candlesticks, but after the surge, the green candlestick may dominate), supporting further upward movement.
Conditions: High trading volume is needed (the image does not show trading volume; if there is a breakout with volume, the credibility is higher). In the evening, if the overall market is bullish (such as driven by Bitcoin or favorable industry news), the possibility of breaking above 2600 increases.
Bearish scenario (the possibility of pulling back to around 2520):
Probability: Medium (about 40-50%). The reasons are as follows:
After the surge, the price approaches strong resistance at 2587.73 (clearly marked in the image), which usually triggers profit-taking or a technical pullback. If it fails to break through, it may retreat to the support area.
Support levels are concentrated around 2520-2550 (such as 2522.05, 2538.13), especially 2522.05 (81.0% level) is strong support. Retracement targets can refer to Fibonacci levels: the 33.2% level at 2559.19 and the 47.5% level at 2548.08 are preliminary supports; if broken, it may test the 2520 area.
Technical indicators such as candlestick patterns (the red candlestick in the image may indicate pullback pressure) and the watershed line may accelerate the decline if they turn bearish.
Conditions: If the surge lacks sustained buying pressure (such as shrinking trading volume or negative news), the price is likely to retreat. Around 2520 is the main support area; if broken, the downside risk increases (such as testing 2507.29).
Candlestick Judge · The pen is the seal
Core view: From the current chart expression, the evening trend tends to first test the resistance level of 2587.73, but it is challenging to break through 2600; if it fails, it may pull back to the 2550-2520 area. The reason is:
After a surge of 30 points, the price is below 2587.73, and this resistance level is very critical (marked repeatedly in the image). Historical data shows that ETH often fluctuates near key resistance levels (the purple arrow may indicate recent fluctuations).
Support levels at 2520-2550 are relatively strong, but they are about 50-60 points away from the current price; if a pullback occurs, there is room.
Time factors: Evening trading sessions (assuming the European and American markets) usually have higher volatility, but the image does not provide time frames or trading volume data, increasing uncertainty. If the surge occurs during Asian hours, the evening opening in Europe and America may bring a new direction.
Candlestick Judge: The record of trading ups and downs written with tears:
Uncertainty: As you said, it is difficult to make a precise judgment based solely on this image. The Fibonacci levels are repeatedly listed in the image but lack other key indicators (such as moving averages, RSI, trading volume, etc.), which could provide more confirmation signals. For example:
If trading volume expands during the surge, the probability of breaking through 2600 increases; if it rises without volume, it may be a false breakout.
External factors: Such as Federal Reserve policy, ETH ETF news, or the movements of the market (Bitcoin) will affect the outcome.
Risk management: If trading, it is recommended to set stop-losses (such as below 2571.16 or 2559.19) and target levels (looking towards 2600 after breaking through 2587.73). 2520 is important support, but if the overall market turns bearish, it may drop below 2500.
Suggestions: Combine more tools for verification, such as:
Real-time data (such as TradingView or CoinGlass) to monitor trading volume and order books.
Multi-timeframe analysis (such as 1-hour charts to assess short-term trends).
Pay attention to news (such as ETH upgrades or regulatory dynamics).
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