Overall trend: Bulls are still present, but beware of consolidation
$ETH The current price of Ethereum is around $3912.16, the overall upward trend remains unchanged, but the momentum has obviously slowed down. The short-term K-line has formed a doji, and with the short-term moving averages flattening, it indicates resistance at a high level, and the market may enter a phase of consolidation.
During the pullback, trading volume has decreased, indicating that selling pressure is temporarily not significant, but breaking through the previous high is not that easy. Operational suggestions:
Holders should continue to hold, but keep an eye on the resistance level of $3940.81 - if it breaks out with volume, add to the position; if it encounters resistance and falls back, watch whether the support at $3505 can hold, don’t let high-level pullbacks eat away profits.
Short-term players should not rush in, wait for clear signals before taking action, chasing high positions can easily lead to being trapped.
No matter how you play, a stop loss must be set, this is the bottom line.
Technical signals: The battle between bulls and bears looks at key points
K-line formation: The previous hammer candlestick suggested bottom support, and the current doji reminds that 'the trend may change', along with the flat bottom formation, the short-term support is still relatively solid.
Trading volume: Volume increased significantly during the rise, especially near the $3940 mark, the bullish strength is visible; but there has been no accompanying volume recently, the upward momentum seems a bit weak.
Moving averages: MA7 (7-day moving average) is still rising, MA30 (30-day moving average) is steadily supporting the price, the bullish arrangement of moving averages is still in place, the overall direction is not chaotic.
Operational point suggestions
Buy point: around $3880, this is a support zone with a lot of transactions in the early stage, a pullback to this level is relatively safe.
Long stop loss: $3840, if it falls below this recent low, the short-term upward trend may be in trouble.
Sell point: $3940, close to the recent high, strong resistance, bulls may take a breather here.
Short stop loss: $3955, if it breaks through the previous high, it indicates that the bulls can still charge, and the bears should retreat quickly.
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