Saturday Evening Ethereum Latest Market Analysis
Looking back at the afternoon long position strategy, it has perfectly paid off. In the afternoon, the actual trading rose steadily and reached the high point of around 1841, then faced pressure and fell back to the current level around 1790 for a consolidation and correction. Friends who followed the strategy should have captured several points. This evening, we still maintain a long position strategy. Aggressive traders can try a small position to go long now, while conservative traders should wait for a pullback opportunity to position themselves again.
The 4-hour chart of Ethereum shows a slow decline followed by a quick recovery, with consecutive small bearish candles followed by a bullish candle that pulls back up. It is again contesting the previous drop point above. However, from the closing situation on the 4-hour chart, the decline is slow and the recovery is quick. In the short term, it is temporarily a consolidation correction trend, while the Bollinger Bands are starting to narrow. During the day, it rebounded from the middle band to the upper band for a consolidation. This evening, continue to pay attention to the support around 1650. If the low does not break and the pullback does not persist, it will gradually rise to recover lost ground. Of course, the rhythm is oscillating. This evening, the short-term Silk Road will maintain the low support like Bitcoin, looking for an opportunity to continue going long. If it breaks the position, we will readjust Silk Road.
Operation Suggestions:
Ethereum 1730-1770 long, target 1990.
