$ETH
The midday currency price shows a pattern of fluctuating rebound. The Bitcoin price fell from a high of 109090 to a low of 108080, then stabilized and rebounded to 108887, currently maintaining a fluctuation range of 108500-108900. This pullback has just given us the opportunity to enter long positions, successfully capturing over 500 points of movement. Ethereum performed even stronger, rebounding from a high of 2626 to a low of 2588, then stabilizing and reaching a high of 2644, currently fluctuating around 2620. The long position strategy for Ethereum provided a successful profit of 50 points.
The technical analysis shows that the EMA30 (108600) on the 1-hour chart has formed support, MACD has a golden cross but RSI (48) is still in the neutral zone, with key support at 108300/108000 and resistance at 109000/109500. Ethereum's 4-hour rising channel (2580-2660) remains intact, with trading volume increasing alongside the rebound, support at 2610/2588, and resistance at 2644/2660. The current market shows a strong Ethereum and weak Bitcoin pattern, with a focus on Bitcoin's key support at 108000 and Ethereum's key support at 2600, and caution regarding volatility risks that may arise from the opening of the US stock market. Strategies may be adjusted according to real-time currency prices.
Bitcoin suggestion: Long positions at 108200-108400 if stabilized, target 109200-109500; or short positions at 109200-109500 if under pressure.
Ethereum suggestion: Long positions at 2610-2620 if stabilized, target 2640-2660; short positions can be lightly tested at 2650-2660 if obstructed.
