4.14 Monday Afternoon Ethereum Market Analysis and Trading Suggestions
In the afternoon, we provided the idea of shorting Ethereum with some room for movement. Ethereum synchronized with Bitcoin's rally, reaching a high near 1641. Currently, the market has once again pulled back and is fluctuating around 1620. This afternoon, we have maintained a bearish outlook, waiting for the right moment to enter and looking for a pullback.
The 4-hour chart for Ethereum shows a slight slowdown in rhythm. Last week, there were repeated instances of rising and falling, testing the support of the lower boundary. This week, we still need to pay close attention; if key defensive support is broken, we should be aware of a deep adjustment. This means that the low support near 1380 is the mid-term bullish defense. If broken, it would deepen the adjustment space. Currently, the short-term remains in a fluctuating range, but the Bollinger Bands are in a contraction phase. The 1-hour chart is caught in a dull oscillation. For today, we will initially treat the short-term outlook as fluctuating, continuing to participate around the high and low ranges.
Trading Suggestions:
Ethereum rebounds to the 1650-1680 area, targeting around 1550.
