4.17 Thursday Afternoon Ethereum Market Analysis and Trading Suggestions
In the afternoon, we provided a low long strategy for Ethereum, allowing for certain space. Ethereum synchronized with Bitcoin's rally, reaching a peak around 1602. Currently, the market has once again retreated to around 1600 and is fluctuating. We continue to maintain a bullish outlook in the afternoon, seizing the opportunity to enter as we wait for upward continuation.
From a daily chart perspective, Ethereum's short-term fluctuation trend continues to weaken, with smaller amplitude in upward and downward movements. The daily level is oscillating around the MA5/10 day moving averages, adjusting around 1600. Meanwhile, the short-term bullish-bearish dividing line is focused on the 1-hour MA256 day moving average, which is at the 1580 level. Having broken through the 1600 level, we can cautiously try a long position and look for upward continuation.
Trading Suggestions:
Ethreum's rebound to the 1550-1580 area, targeting around 1650.
