8.11 Ethereum (ETH) Market Analysis Reference
The Ethereum bulls continue recently, with consecutive daily gains. The price rebound is stronger than before, currently touching the upper Bollinger Band near the 4350 level, facing slight pressure. After yesterday's pullback, the increase has been over 200 points, and the market continues to break upward. Therefore, Mr. Coin suggests taking long positions during the day, and it is not recommended to enter short positions for now.
Looking at the short-term hourly chart, all moving averages show an upward tendency; however, the price has faced pressure several times above the 4330 level, which has slowed the upward momentum. Currently, it is under slight pressure and consolidating, but the upward trend has not changed. Additionally, the KDJ lines in the supplementary chart are diverging upwards, and the MACD shows a golden cross maintaining an upward trend. Thus, if the 4350 resistance is broken, it is expected that the increase will continue, with short-term support to watch at the 4160 level.
8.11 Ethereum Short-term Reference:
It is recommended to observe before taking short positions,
Test buy points at 4200-4151, stop loss at 30 points, target above 4300.
The article has a delay in sending, and the strategy suggestions are for reference only. The market changes rapidly; regardless of how high the judgment on the market is, always carry a take-profit and stop-loss strategy to secure profits.
