4.11 Friday Afternoon Ethereum Latest Market Analysis and Trading Suggestions
Looking back at the trading ideas given at noon, the actual market is currently fluctuating around 1550. Ethereum briefly dropped to a low of 1503 in the morning, and with the bullish momentum, the price started to rise, reaching a high of 1561. Based on the current market, it seems to be a technical correction, and our afternoon strategy will mainly focus on short positions.
Currently, there is still a slight bullish sentiment in the short term, and the market is expected to continue moving upward. The upper band of the 4-hour Bollinger Bands has been pushed down to near the EMA180 moving average, close to yesterday's high level, indicating that there is significant resistance to breaking through above. However, the lower band is maintaining an upward trend, suggesting that market support is gradually rising, indicating that the price may likely enter a new consolidation phase. The afternoon strategy will focus on selling high and buying low.
Trading Suggestions:
Sell Ethereum in the 1580-1630 range, targeting 1500.