In this wave of Ethereum's market, on the daily chart, Ethereum broke below the EMA30 yesterday, and today it first tested the support at 1730, which seems quite solid.
However, the EMA indicator lines are starting to converge, and with the price touching the upper Bollinger Band near 1800, unless the Bollinger Band opens upwards, the probability of a direct upward surge is low. If the Bollinger Band does not rise, it might follow the broader market down again.
The mid-line at 1620 is a hurdle. Although the MACD is still expanding, there is a divergence in the K-line, indicating that the bullish momentum is somewhat weak. If it truly wants to surge upwards, it needs to accumulate more positions.
In the short term, if it can't drop further, it is likely to fluctuate around 1800.
Switching to the four-hour chart, it has held up after retracing to the EMA15 near 1740, but the EMA indicator lines faced resistance after crossing upwards.
The MACD red bars are starting to shorten, and the two lines of DIF and DEA are crossing downwards at a high level. The price, after previously expanding the Bollinger Band, has now dropped to the mid-line at 1715 and bounced back up, indicating that there is capital supporting this level.
Currently, the upper and lower boundaries are quite defined, with resistance above at 1820 and support below at 1720. It is highly likely to consolidate into a box range within this interval; as long as it does not break out, the most stable strategy is to buy low and sell high for a swing.
Short-term reference: Safety first. Remember that the market is never 100% certain, so always set proper stop losses. Safety first, small losses for large profits is the goal.
From 1750 to 1730, defend at 1700, stop loss at 30 points, target 1800 to 1840, if broken, look at 1870.
From 800 to 1830, defend at 1860, stop loss at 30 points, target 1750 to 1700, if broken, look at 1675.
