#ETH Daily Analysis

Price is oscillating around 1770, currently within an upward oscillation range, with a possibility of a peak.

In the short term, if the price cannot break through the resistance level of 1800, further retracement may occur, testing the support level of 1760.

Suggestion: In the current oscillation range, consider waiting and watching, waiting for the price to clearly break through 1800 or drop below 1760 before making further moves. If the price breaks below the key support, consider reducing long positions or shorting on a short-term basis, closely monitoring indicators and patterns for further confirmation of reversal signals.

Technical Analysis

Candlestick Pattern: The Dark Cloud Cover pattern suggests a potential downward trend, the Doji indicates market indecision, the Spinning Top shows the market is hovering in low volatility, and the Hanging Man signals a possible reversal, especially at the top of an uptrend.

Market Trend: The current market trend is characterized by oscillation, with short-term signs of stagnation at high levels, indicating a possible retracement.

Support and Resistance: 1530 is a strong support level, and 1857 is a recent resistance level. In addition, short-term support is around 1750, and short-term resistance is around 1800.

Potential Buy and Sell Points

Buy Point: 1760 (close to the previous low, potentially forming support, Bottom Formation appears)

Long Stop Loss Point: 1730 (breaks below recent low, confirming downward trend)

Sell Point: 1800 - 1820 (close to recent rebound high, with selling pressure risk, candlestick pattern weakens)

Short Stop Loss Point: 1860 (breaks above recent high, indicating continuation of upward trend)