ETH 1-hour suddenly shows short signal! 3900 becomes the lifeline for bulls and bears, can we bottom out now?
Dear friends, the current ETH trend is quite critical!
The 1-hour candlestick shows a price of 3859, which has fallen below the BOLL middle track. The EMA7/30 and MA7/30 have formed a dead cross to press down, and the MACD green bars are expanding while the DIF is operating below the DEA, indicating a clear short dominance in the short term!
The upper range of 3900-3920 has become a heavy pressure area where EMA30 and BOLL middle track overlap. Any rebound before breaking through is an opportunity to reduce positions; the lower defense line looks at 3780-3800, where BOLL lower track and previous low support lie.
When the price is operating below the BOLL middle track and the MACD double lines are below the zero axis, it belongs to a typical short trend, and one should not go long against the trend!
Operation suggestion: If it breaks below 3780 with volume, the next support looks at 3650; only if it stands firm at 3920 with volume and the MACD golden cross can we consider a short-term shift to long.
Currently, the news front is calm, but we must be wary of the risk associated with the opening of the US stock market. On-chain data shows that the frequency of transfers from whale addresses has recently decreased, indicating that large funds are still observing.
Currently, it is in a stage of short control. For conservative traders, it is recommended to wait for a daily level stabilization signal, while aggressive traders can cautiously try long positions near 3780 with strict stop losses. I will monitor the market 24/7 and will update immediately in the comments section once a change signal appears!
Follow to learn more about the breakdown of ETH trading directions, as Muzhou continues to proceed steadily!
