Ethereum (ETH) Latest Market Analysis Reference
Daily K-line highest 1826, lowest 1737, just right to bounce back to the EMA30 trend line support point. Even if going long at this position, it is a key support point. If it breaks down, you need to set a stop loss to prevent a market crash. The MACD is continuously expanding, with DIF and DEA starting to challenge the 0 axis upwards from a low position. The K-line continuously attacking the Bollinger Band upper resistance at 1800 must eventually break through; this indicates that the K-line still has the momentum to break the previous high. Therefore, while testing short positions above 1820, also be prepared mentally for being stopped out, as gains and losses originate from the same source.
The four-hour K-line forms a double top trend above 1800. The EMA is alternating and expanding upwards; it can be seen that the fast line has finished spreading, while the medium and long lines have come together, concentrating chips around 1680. Coupled with the increasingly obvious MACD top divergence trend, as long as DIF and DEA do not break the previous high, a golden cross will not form. However, if a single K-line breaks the previous high, there is a high probability that the market will stretch rapidly and diverge quickly. The principle of Bollinger Band contraction is the same; the upper band is blocked at 1825, and the lower band supports at 1725. The market is currently at the edge of extreme overbought, and there are suspicions of the main force raising prices to unload. Be sure to take precautions.
Short-term Reference: Safety first. Remember that the market is never 100%, so always set your stop loss. Safety first; small losses with large gains is the goal.
Northward testing points 1750 to 1730, defense at 1680, stop loss at 30 points, target looking at 1800 to 1840, break point looking at 1870.
Southward testing points 1850 to 1900, defense at 1950, stop loss at 30 points, target looking at 1800 to 1750, break point looking at 1700.
Shendan is continuously laying out...
