Ethereum hit a high of 2455 in the morning yesterday and then began to fall back. Although there was a rebound near $2415 in the evening, the upward momentum was relatively weak. It just fell to a minimum of around 2310 and then began to rebound. The current market is fluctuating around $2330.


Ethereum market analysis:

Ethereum ushered in a big rise after stepping back to the low of 2180, successfully breaking through the suppression of 2300-2400, and rose to around 2455, but then fell under pressure. In terms of weekly lines, with the rebound of the market, the MACD volume has not been released and remains in a shrinking state. If a long upper shadow line is formed this week, the market trend next week will become very critical, and there may be a top divergence. In terms of daily lines, the market the day before yesterday formed a large positive line from below the middle rail to hit the upper rail, while yesterday's pin market went out of the long upper shadow line negative column, which is a trend of large volume decline. We need to be vigilant whether this wave of rebound is a lure. This morning, the market stepped back to the 5-day moving average and rebounded with support. From the technical indicators, there is still a trend of continuing to step back. Pay attention to the support near 2300 below.

On the 4-hour chart, the market rebounded to a high of 2455 and then formed a long negative line, followed by a continuous decline. Although there was a rebound in the morning, it failed to break through the suppression of the upper downward trend line and continued to fall. Technical indicators show a downward trend, and MACD shows a dead cross trend. The market may continue to fall. If it falls below the support of the middle track 2300, combined with the top divergence pattern on the weekly chart, there may be a further downward trend. Today's operation suggestion is mainly to rebound and short. Pay attention to the support near 2305 below. There may be a pin situation. If it does not break, you can consider entering the market with a long order.

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