Hello everyone, I am Eleven. A new week has begun. Today, let us continue to analyze and review the recent trend of Ethereum ETH!
Looking at the above picture, we can see that today Ethereum ETH rose by +1.12% in 24 hours, with a 24-hour trading volume of 2.1198 million and a 24-hour trading amount of 27.85 billion.
ETH latest market
Using the relative strength index (RSI), moving weighted average (MWA), Williams fractal, and moving average convergence divergence (MACD) in the above chart, we can identify Ethereum’s price pattern to determine its future direction.
We can see that Ethereum ETH has started to rise again after 5 consecutive positive rises in the latest 4-hour line. The recent trend correction continues to fluctuate.
At present, Eleven finds that the market of Ethereum is in a high sideways state after a rapid rise at the beginning of the week. We have seen that the market has tested ups and downs many times, and the continuity of long and short positions is not strong. In this case, Eleven believes that appropriate high-selling and low-buying methods can be adopted to cope with market fluctuations.
Then facing the current market trend, I have the following insights:
During the process of multiple ups and downs in the market, we can adjust our positions appropriately according to the pressure levels and support levels to reduce market risks.
In the current situation, if the support below is not broken, then the bulls still have the upper hand. Then we can pay attention to the performance of the support level and buy appropriately near the support level to seize the opportunity of potential rise.
I think that although Ethereum has risen rapidly recently, we see that the upper resistance still exists. So we need to pay attention to the performance of the upward resistance, so that after the market repairs and accumulates power, we can seize the opportunity for further rise.
If you have any questions, you can ask me directly. As long as it is something I know, I will tell you everything!
