Current Technical Analysis
First, use a table to quickly understand the current key technical levels:
Analysis Dimension Detailed Data Market Implications
Current Price Approximately below $4500 Daily decline exceeds 2%, near key support area.
Strong Support Levels $4300, $4285-4300 Range Key watershed. If effectively broken, it may test $4140 or even $4067.
Minor Support Levels $4480-4500 Range The current price is testing this area. If the rebound lacks strength, it may accelerate the decline towards $4300.
Recent Resistance Levels $4520, $4600, $4800-4830 Any rebound will first face the test of these resistance levels. In particular, $4520 is an important resistance for the day.
Bullish Target Level If it breaks the $4800-4830 resistance and stabilizes, it may challenge the previous high of $4945 again or even the psychological level of $5000. Strong buying pressure and volume support are needed.
Bearish Target Level If $4300 is effectively breached, it may further test $4140, $4067, or even the psychological level of $4000. The downward trend may continue.
Market sentiment is cautiously short-term, but there are clear signs of long-term institutional accumulation. Analysts under Tom Lee remain optimistic about a medium to long-term rebound to $5100-5450. The long and short positions are fiercely contested. Short-term volatility has increased, but the long-term fundamentals have not been completely destroyed.
Today's Operational Strategy Reference
Considering the current market situation, you may consider:
Aggressive Short-term Long: If the price falls back to the $4370-4350 area and shows signs of slight stabilization, you can lightly position for a rebound, strictly setting a stop loss below $4300, targeting the $4480-4520 range.
Note: This is a contrarian operation, which carries higher risks. Be sure to trade with caution and enter and exit quickly.
Trend-following Medium-term Short:
If the price rebounds to the $4480-4520 resistance area and shows signs of stagnation, a short position may be taken, with a stop loss set above $4600 and a target looking down at the $4300 support level.
If the key support at $4300 is effectively broken, short positions may be chased, targeting $4140, or even the integer level of $4000.
Important Risk Warning
Strict Risk Control: The current market is highly volatile, be sure to set stop losses and take profits, control position ratios, and avoid heavy positions. Pay attention to market correlation: the performance of Ethereum has a strong correlation with Bitcoin. Close attention should be paid to how Bitcoin price changes affect the entire cryptocurrency market.
Market Impact: Focus on the Federal Reserve's monetary policy trends and the capital inflow of the US spot ETH ETF, as these may cause significant market fluctuations.
Summary
In summary, Ethereum currently has a strong bearish trend, with key support at $4300. Operationally:
Short-term experts can lightly position for a rebound in the $4350-4370 area, targeting $4480-4520.
Trend followers may wait for a rebound to the $4480-4520 area to short, or chase short positions after effectively breaking below $4300.
Everyone must set stop losses and control risks.
I hope this information helps you! Please note that the above analysis is only a summary of market information and sharing of personal opinions, and does not constitute any investment advice. The cryptocurrency market is extremely risky, so please make independent judgments and cautious decisions.
