Today, I will share some recent thoughts on ETH.
The first chart shows the Fibonacci levels for Ethereum coming up from the bottom, having already reached 1, which is around 3857. A correction and consolidation are needed to provide momentum and fuel for the next upward move.
First, the second chart is the 4-hour view of Ethereum, where 4111.6 is a historical resistance level, and the selling pressure is absolutely heavy. You can already experience this; yesterday's news should have been seen by everyone. Many stakers have begun to unstake and transfer to exchanges or sell on-chain. Since this is a resistance level, profit-taking should be done in batches. My personal suggestion is to set sell orders between 3950-4050, selling a batch every 10 points increase.
The third chart is the 15-minute view of Ethereum, where we can see:
First resistance level: 3684
Second resistance level: 3779
The previous first support level of 3626 has also been broken, so we need to look downwards.
First support level: 3543
Second support level: 3531
Third support level: 3475
If the first two support levels are broken, either stop loss at 3500 or do not add positions yet, but observe the strength of the 3475 support level. If all three support levels are broken, prepare for a stop loss around 3460, then wait for the Fibonacci level of 3331.
Here, I emphasize not to short!!!
Although shorting can bring quick profits, it is not cost-effective. If you have margin trading, going long will eventually pay off. However, if you short, according to the buying power of Wall Street institutions, you will never know when it will end. If you feel that going long is torturous, you can start buying spot in batches from 3543 downwards, but avoid contracts, as Ethereum contracts can really liquidate too many people.
Starting tomorrow, I will share intraday trading points. If there are other mainstream coins you want to ask about, feel free to post in the comments, and I will find time to post. #以太坊交易量反超比特币 #BNB创新高 $ETH