📣Ethereum trend continues to be stagnant, evening operation advice is to focus on short positions📉
Yesterday, after a decline, Ethereum saw a rebound in the morning, but the trend did not stabilize above 2700, leading to a correction. Currently, the overall trend appears weak, and it is still advised to focus on short positions!
【Analysis of Ethereum price trend from a four-hour perspective】
Candlestick pattern:
Recently, the price has been fluctuating within the range of 2600 to 2700, forming a short-term consolidation platform. The daily candlestick shows long upper and lower shadows, indicating fierce competition between bulls and bears.
Technical indicators:
MACD: In the four-hour cycle, both DIF and DEA are negative, but the MACD histogram is starting to shorten, which may indicate a weakening of bearish momentum.
RSI: Currently, the RSI is around 40, not entering the overbought or oversold zone, showing that the market is in a relatively balanced state.
EMA: The current price is below EMA7 and close to EMA30, while EMA120 is much higher than the current price, indicating that the overall trend still leans towards bearish.
Trading volume:
In recent trading days, the trading volume has decreased, especially during price rebounds, indicating that the increase lacks sufficient volume support. During significant fluctuations (such as on February 6), the trading volume increased significantly, showing intense market sentiment fluctuations.
Evening Ethereum profit layout on 2/9:
It is recommended to enter short positions near 2630-2650, with short-term take profit points at: 2600-2580. If it falls below 2560, you can continue to hold!
For rebounds, it is suggested to add to short positions near 2680, with target points unchanged!
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