$ETH Today's Trading Strategy:
Currently, the trading price of Ethereum (ETH) is $2,679.02, with a 24-hour trading volume of $725,307.79, and the price has decreased by 4.577% during the regular trading period. From the price chart, ETH is at a critical technical juncture, with recent trends showing some uncertainty.
Technical Indicators and Levels
1. RSI (14): 48.63
- Analysis: The value is close to the neutral zone, indicating that it has not yet entered an oversold state, but if selling pressure increases, it may continue to decline.
2. MACD: -70.89
- Analysis: The MACD line is below the signal line, indicating strong bearish momentum in the short term.
Fibonacci Retracement Levels:
- Pivot Point: 2,729.9820
- R1: 2,826.2070
- R2: 2,885.6560
- R3: 2,981.8820
- S1: 2,633.7560
- S2: 2,574.3070
- S3: 2,478.0820
The current price is testing the first resistance level R1 (2,826.2070). If the price breaks through R1, it could initiate a bullish trend.
Trading Strategy Recommendations
1. Bullish Signal:
- Entry Conditions: Wait for the ETH price to break above R1 (2,826.2070).
- Target Price: R2 (2,885.6560) and R3 (2,981.8820).
- Stop Loss Setting: It is recommended to set the stop-loss below S1 (2,633.7560) to control risk.
2. Bearish Signal:
- Entry Conditions: If the ETH price fails to break R1 and instead consolidates below this level, consider shorting.
- Target Price: The target is S2 (2,574.3070).
- Stop Loss Setting: It is recommended to set the stop-loss above R2 (2,885.6560).