📣 The market is stagnant while Ethereum surges high, is it a trap or a recovery❓
From the current trend of Ethereum, it is still breaking through. Pay attention to the resistance level at the key point of 1700 above. The previous trend was similar; after failing to break and stabilize above 1700, a sharp drop occurred. It is recommended to focus on short positions during the evening.
【Analysis of Ethereum Price Trend on a Four-Hour Basis】
K-line Pattern:
Recently, the price has shown a significant upward trend within the 4-hour cycle, forming multiple bullish candles, especially the recent K-lines that display strong upward momentum. On the daily level, the price has rebounded from a low and broken through previous highs, forming a relatively stable upward channel.
Technical Indicators:
MACD: The MACD histogram continues to expand, and the DIF line crosses above the DEA line, indicating that the current market is in a bullish trend.
RSI: The RSI value is close to the overbought area but has not yet entered extreme territory, indicating that there is still some upward space in the market.
EMA: The short-term EMA7 and EMA30 have crossed upwards, and the price is stabilizing above EMA120, further confirming the upward trend.
Volume:
In the 4-hour cycle, trading volume has significantly increased, especially when the price breaks through key resistance levels, indicating positive capital inflow. The trading volume on the daily level has also rebounded, matching the price increase and supporting the current upward trend.
Evening Ethereum Stable Profit Layout on 4/14:
It is recommended to enter short positions around 1680-1700 for Ethereum, with target points: 1650-1630-1600. If it breaks, watch for 1550!
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