The weekend saw Ethereum strongly rallying, how should we view trading moving forward?
Should we buy low or sell high?
Today, the market overall maintained a high-level oscillation rhythm. BTC fluctuated around 118,000-120,000, despite briefly spiking to 124,474, it failed to stabilize, indicating that selling pressure still exists above. Currently, the 7-day and 25-day moving averages at the daily level are forming support around 118,000, while the 4-hour level faces short-term resistance near 119,800. If this position cannot be quickly reclaimed, the price is likely to continue consolidating within the range. In the short term, pay attention to support at 117,200 to 116,500, and if it breaks down, there is a risk of revisiting 114,000.
Support below at 117,000, 116,500; resistance above at 119,500, 122,500.
ETH's performance is relatively strong. Although it has retreated from the 4,788 high, it is still operating within a strong structure overall. Currently, it is repeatedly contending in the 4,550 to 4,600 range, with the 4-hour moving averages gradually flattening, indicating an intensifying short-term tug-of-war between bulls and bears.
From a structural perspective, as long as it holds the 4,300 to 4,260 area, the overall bullish trend remains intact. However, if BTC experiences a major correction, Ethereum will also struggle to stand alone and may first test support before stabilizing. Watch for resistance above at 4,680 and 4,780; once it breaks through with volume, there may be a chance to challenge 4,900 or even the 5,000 whole number level.
Support below at 4,350, 4,300, 4,120; resistance above at 4,680, 4,780, 4,950.