ETH (Ethereum)

Since retreating from the high point at the beginning of the year, Ethereum has exhibited a weak structure with continuous lower lows and a lack of rebound strength, until the beginning of April when a weekly level showed a significant bullish candlestick with a cross star, signaling the initial formation of a bottom. After a significant surge, the daily level has entered an adjustment phase, and the current price has initially broken through the blue downward trend line pressure, but the increase in trading volume is not significant and remains below the level during the major drop in February, indicating relatively cautious market participation, and the validity of the breakout still needs subsequent confirmation.

In terms of moving averages, the MA7 and MA14 have turned upwards, forming an initial bullish arrangement. The short-term key defensive level is around 1720; if the price can maintain this support and break through 1850 with volume, market sentiment is expected to further improve, with the next target for the rise potentially at around 2150.

The 4-hour level trend shows that ETH is currently in an adjustment phase after the first round of increase, while also digesting the pressure from the dense trapped positions in the 1800-1830 range from the end of March to early April. Currently, a clear support has formed at the 1720 level.

In daily trading, it is important to closely observe the support strength in the 1785-1765 range below, while the resistance pressure above should be monitored in the 1830-1850 range.