In the past two days, ETH price has been oscillating around 3200 USDT, cautiously testing the direction. Although there is a slight indication of a rebound at the daily level, overall, it has not completely escaped the previous downtrend and is struggling in the short term.
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[How to view the market?]
1. Price pattern
In the past period, ETH has been consolidating around 3200 USDT, and market sentiment is relatively cautious.
Short-term upward movement is strong, but the long-term trend has not completely turned bullish. Don't be misled by short-term rebounds.
2. How to view technical indicators?
MACD: The hourly MACD histogram has turned positive, indicating that bulls are starting to gain strength, and the DIF line has also crossed above the DEA line, suggesting that the short term may continue to push higher.
RSI: Current RSI 64.66, not far from the overbought zone, indicating that the short-term is a bit overheated and caution is needed for a pullback risk. If RSI continues to maintain a high level, ETH may enter a strong upward mode.
EMA moving averages:
7-hour EMA: 3169.43 USDT
30-hour EMA: 3141.38 USDT
120-hour EMA: 3185.12 USDT (current price is around this level, which may act as support or resistance)
→ The short-term moving averages are below the current price, indicating a strong trend, but there is significant pressure above. Whether it can break through near 3200 depends on the attitude of the funds.
3. What does trading volume indicate?
The trading volume has increased in the past few hours, especially during the 1100 time period, indicating that the market has become more active, showing that short-term funds are taking actions.
The trading volume at the daily level is relatively stable, with neither a massive influx nor a significant shrinkage, indicating that overall market sentiment is still on the sidelines.
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[Operational strategy]
✅ Suitable entry points for buying (going long)
1. 3150 USDT —— Near the previous low point, also supported by the 30-hour EMA. If it pulls back, it may be a good entry point.
2. 3100 USDT —— A classic integer level support, which is also the lower boundary of the recent oscillation range. A pullback to this vicinity may attract some funds to buy the dip.
Stop loss point: 3075 USDT —— This position is exactly 25 units below 3100 USDT. If it breaks below, the short term could become dangerous, so exit immediately to avoid being trapped.
❌ Suitable points for selling (going short)
1. 3250 USDT —— Integer level pressure, this is the recent rebound high point, and there may be resistance in the short term.
2. 3300 USDT —— A higher level of integer level pressure, approaching the upper resistance zone at the daily level. If it can reach here, there will likely be a wave of selling pressure.
Stop loss point: 3325 USDT —— This position is 25 units above 3300 USDT. If ETH really breaks through this point, it indicates that the market may completely turn bullish, so it's not suitable to continue shorting. Set stop loss in time to avoid further losses.
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[Current short-term trend of ETH]
ETH is still relatively strong at the hourly level, short-term showing some momentum, but RSI is close to overbought, so a washout before continuing to push higher cannot be ruled out.
Oupeng's conclusion:
ETH is currently showing short-term strength, but do not ignore the pressure above. If you want to go long, it's safer to wait for a pullback to support before entering; if you want to go short, wait for a rebound to the resistance level before taking action. Regardless of whether you go long or short, always set a stop loss; it can save you in case of sudden market changes!