ETH Daily Analysis: Low Volume Upward Movement Awaiting Breakthrough, Key Levels Determine Direction
1. Price Trend: Low Volume Small Bullish Candle Continues Oscillation Upward
ETH daily closed with a small bullish candle, trading volume shrank to 50% of the previous day, maintaining a low-volume oscillating upward trend. The current price is nearing the critical EMA52 moving average on the daily chart, facing a short-term directional choice.
2. Momentum Analysis: Following BTC but Relatively Weak
The hourly trend still follows BTC, though it shows relative weakness, there is potential for a rebound to challenge the 1890 resistance level amidst BTC's high-level consolidation. Attention is needed to see if it can effectively break through the EMA52 moving average to confirm strength.
3. Key Scenario Projections
Strong Breakthrough: If it can break above EMA52 with increased volume, it is expected to test the 2000-2100 range.
Consolidation and Retracement: If it faces resistance after a rise, it may retest the 1740 support and continue the daily level adjustment.
4. Bull-Bear Critical Points
Resistance Levels: 1890 (short-term strong-weak dividing line) → 2120 → 2310
Support Levels: 1740 → 1680 → 1540 → 1460
Conclusion:
Under the current low-volume upward trend, it is recommended to focus on the breakthrough of the 1890 resistance level. An effective breakthrough could lead to higher targets, while a retracement after a peak necessitates caution against daily level adjustment risks. The short-term trend remains influenced by BTC and overall market liquidity, with potential for increased volatility.
