ETH Trend Analysis
1. Price Trend: Recently skyrocketed!
From July 16 to 18, ETH jumped from 3137 U to 3620 U in one go, surging all the way!
It peaked at 3673 U before pulling back a bit, but the overall trend is still very strong, resembling an "uphill road".
2. How to interpret the technical indicators?
MACD: This is an indicator of bullish and bearish strength, and currently the "bulls" are very strong, indicating that everyone is buying.
RSI: It has reached the "overbought" zone (82), although it's high, it hasn't weakened yet, and the upward trend may not be over.
Moving Averages (EMA): Short-term, medium-term, and long-term are all arranged upward, and the price has always been above the shortest line, indicating a healthy and strong market.
3. Trading Volume Situation:
Trading volume has been surging in recent days! Especially from July 16 to 18, indicating that funds are actively entering the market, with many buyers and strong bullish sentiment.
Operation Suggestions
Consider potential buying positions:
3520 U: A good opportunity after a short-term pullback, this is the previous price support area, suitable for "light position testing".
3450 U: If it drops a bit more, this is more stable, as it is supported by previous lows + moving averages, suitable for adding a bit to the position.
3670 U: This is the position that couldn't be breached a few days ago, and there may be resistance again in the short term.
ETH remains strong in the short term, primarily bullish. But don't blindly chase high prices; manage your position rationally, and it's safer to buy on dips during pullbacks!
