$BTC Cloud Deer Trend Theory: Astonishing Uprising! Ethereum surged to 3750 in the middle of the night before plummeting by 100 points! A dual kill warning for longs and shorts, today may trigger a super volatility!
Ethereum showed a high and then a retreat overnight, peaking at around 3751 before retreating to around 3656 for oscillation and consolidation. Currently, the coin price has rebounded to around 3740 for consolidation. Friends who missed the long position earlier can seize the opportunity later; after testing support during the current pullback, it may provide a chance for a second entry.
Technical analysis shows that the 3700-3720 range constitutes primary support, while the 3750-3760 area forms short-term resistance. In terms of indicators, the 4-hour MACD has formed a bearish crossover at a high position, and the RSI has fallen from the overbought zone to 58. The narrowing of the Bollinger Bands on the 1-hour chart indicates that a volatility change is approaching. Special attention should be paid to today's performance of the U.S. stock market opening and large on-chain transfers of Ethereum.
Ethereum Suggestions: Aggressive traders can try a light short position near the current price of 3740 (with a stop loss above 3755 and a target of 3700-3680); conservative traders can wait for a pullback to the 3680-3700 range to set up long positions (with a stop loss below 3650 and a target of 3750-3780). For medium to long-term, pay attention to the situation of breaking through 3760; if it can effectively hold above, it may see 3800, otherwise, if it breaks below 3650, it may further decline to the 3600 support. #NFT板块领涨