$ETH
Ethereum Saturday Trend Analysis
Yesterday's market continued the consolidation pattern, with fierce competition between both parties, but no effective breakthrough was made, and the price of Ethereum continued to fluctuate within a range.
The small long position arranged last night is also either being reduced or closed, and today's Saturday market trend is slow!
From the four-hour level, the price of Ethereum is operating within a short-term upward channel, and signs of a bottoming reversal are currently appearing.
From the hourly level, the Bollinger Bands are in an opening state, and the bullish momentum of MACD continues to strengthen.
The morning's rise and fall is within the normal range of consolidation. In the future market, attention should be paid to whether the price of Ethereum can form effective support above 1950. After gathering strength and rising without falling back at 1980, it is expected to continue the rebound trend. A short-term pullback that does not break is needed, and there is a demand for technical recovery, with a focus on stabilizing signals during the pullback.
Ethereum does not break 2000, it can be 🈳, suggesting a range of 2020-2050 🈳, with a target above 1950 and a stop loss of 20 points!
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