Ethereum 4-hour Price Trend: Consolidation #ETH
1. Overall Analysis
Recent price oscillation upward
In the short term, the market is influenced by the bullish three soldiers pattern, which has the potential for further upward movement. However, due to a decrease in trading volume, significant fluctuations may occur in the short term, with the price likely encountering resistance around 1558.61.
Suggestion: If considering new positions, watch for rebound opportunities near the support level around 1384.00. It is recommended to consider increasing holdings after the price successfully breaks through and stabilizes above the resistance of 1558.61. At the same time, closely monitor the activity level of market participants and confirm the potential continuation and validity of the trend through changes in trading volume. If the price fails to break through 1558.61 and begins to pull back, it is advisable to temporarily wait and consider reducing holdings. Continuously observe whether the MA short-term moving averages can maintain an upward breakout and assess trend changes.
2. Technical Analysis
Candlestick Pattern: The bullish three soldiers pattern indicates strong buying power in the short term; the doji pattern may suggest a trend reversal but requires confirmation from subsequent candlesticks.
MA: The short-term moving average (MA7) crossing above the long-term moving average (MA30) may indicate a potential upward price reversal in the short term.
Volume: Current trading volume is low and decreasing, indicating reduced market trading activity.
3. Potential Buy and Sell Points
Buy Point: 1534 USDT (close to the MA7 support line and within an oscillating upward trend, potentially forming a rebound opportunity)
Long Stop Loss Point: 1380 USDT (if it falls below the previous low of 1384.00, the trend reversal may continue downward)
Sell Point: 1688 USDT (close to a local high, there is a risk of selling pressure, potentially forming a resistance level)
Short Stop Loss Point: 1700 USDT (if it breaks above the 1688.00 high, it indicates the continuation of the upward trend)
Trends come first, layouts follow!!!
Comment below 168 Up!!!
