ETH today's market forecast and operation strategy
From the 4-hour candlestick chart of Ethereum (ETH)
After experiencing a large decline recently, the price formed an obvious bottom support near 2308 points, and then rebounded. The current price is fluctuating around 2416.53, and the trend shows signs of shrinking volume, indicating that the market is waiting for a new direction.
From the Ethereum (ETH) 1-hour candlestick chart
Combined with the current market technical analysis, we can predict the trend of ETH today from the following aspects and formulate corresponding operation strategies:
1. Moving average system analysis
MA5, MA10, MA30: The short-term moving average MA5 gradually adheres to MA10 and is in line with the price trend, indicating that the short-term market is in a volatile range. MA30 shows a significant suppression effect on the upper side, and the current market has not effectively broken through the pressure of the MA30 moving average (near 2445).
Bollinger Bands: The opening of the Bollinger Bands is gradually narrowing, indicating that market volatility is weakening. In the short term, the price is likely to fluctuate and consolidate in the range of 2400-2450. The middle track of the Bollinger Bands is around 2418, which is the current short-term support area.
2. K-line pattern analysis
The recent K-line shows a series of small positive rebounds, and the trading volume has not increased significantly, indicating that both long and short sides are cautious. The current trend shows a short-term shock repair, but there is still a strong resistance level above, and the probability of a short-term price breakthrough is small.
3. MACD analysis
The MACD indicator shows that the fast and slow lines have just formed a golden cross below the 0 axis, and the red column is gradually enlarging, indicating that bullish momentum is accumulating in the short term and the market has room for further rebound. However, due to the weak overall rebound, the short-term market is likely to be dominated by shocks.
4. Support and resistance levels
The first support level: 2400 points-this area is an important short-term support level. If the price falls below this area, it may trigger a deeper adjustment.
The second support level: 2308 points - the previous bottom support level. If the price falls below this level, the market may fall further.
The first resistance level: 2450 points - the key resistance level of the current rebound, and also the area where the MA30 moving average is located. If it can effectively break through this level, it is expected to further test around 2500 points.
The second resistance level: 2500 points - the integer mark and the location of the previous intensive trading area. If the price breaks through 2450 points in the short term, it will test this area.
5. Operational suggestions
Short-term long position strategy: If the price can hold the 2400 point support area, you can consider lightly positioning long positions in the 2405-2415 range, with the target at 2450 points. The aggressive ones can reach 2500 points, but you need to pay close attention to changes in volume.
Stop loss: It is recommended to set the stop loss below 2390 points to prevent unexpected market pullbacks.
Short order strategy: If the price rebounds to 2450 points and fails to break through, you can consider setting a light position for short orders, setting a stop loss at 2470 points, and targeting the 2400 point area.
Today, ETH is likely to remain in the range of 2400-2450 points and fluctuate. The market has not seen any signs of a strong unilateral market for the time being. As both long and short sides are cautious, the short-term market is expected to show a trend of shrinking volume and volatility. In terms of operation, investors are advised to remain cautious, strictly control their positions, and focus on the gains and losses of the 2400 support and 2450 resistance. If the price effectively breaks through 2450 points, you can consider following up with long orders, with the target at 2500 points.
In general, today's ETH operation strategy is mainly short-term fluctuations. It will be a more stable choice to flexibly respond to market changes and conduct corresponding buying and selling operations near support and resistance levels.
The market is unpredictable and opportunities are fleeting. Only by paying close attention to every subtle change and seizing your own opportunities can you remain invincible in the ups and downs of the market. Are you ready today? Let's look forward to the wonderful performance of the market together!
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