Cryptocurrency Scholar: Is the divergence at the Ethereum peak on April 29 intensifying? Regardless of whether the market is bullish or bearish, remember to set stop losses if key levels are broken! Latest market analysis reference
Ethereum current price is 1800, it is now 3:30 AM Beijing time, everyone must have taken profits around 1820, although the space is not very large, it just bounced back to the bottom support at 1740. Although we did not take profits at the lowest point, we can still take profits at the EMA30 trendline, a 50-point space is better than nothing for the current second-tier coin. We entered long near 1760, and if the defense at 1720 did not get hit, then just hold normally. If the target breaks 1800, look for opportunities to take profits.
The daily candlestick chart shows a high of 1826 and a low of 1740. The EMA trend indicator remains bearish on a large scale, with EMA15 and 30 still converging. The candlestick is expected to test the 1740 support point multiple times, temporarily focusing on horizontal trading at high levels. There is a high probability of a sharp rise at this point; if it cannot hold, it will lead to a plunge. The MACD volume has decreased, and the DIF and DEA are hitting the 0 axis line but are blocked. The upper Bollinger Band has risen to 1855, while the lower band remains unchanged at 1660, overall trending towards bearish. The strategy can be to wait for a push to the high of around 1850 to continue shorting, with proper stop losses.
The four-hour candlestick chart shows that the flag pattern indicator has failed. After the price fell below the EMA30 trendline at 1775, the price attempted to test the EMA60 support at 1740 but failed, starting to stretch upwards and test the key resistance level at 1800. This indicates that there is a huge amount of concentrated chips around 1800. The MACD has shown continuous top divergence and is spreading downwards. The DIF and DEA are also close to the 0 axis line. Whether a bullish reversal trend appears depends on whether it can break below the 0 axis line. After all, the candlestick has fallen below the lower Bollinger Band support at 1770 and returned to the middle band at 1800. Now it is moving back and forth within the Bollinger Band, testing repeatedly.
Short-term reference: Safety first. Remember that there is no such thing as 100% in the market, so always set proper stop losses. Safety first; small losses with big gains is the goal.
For a northbound test point, aim for 1770 to 1750, with a defense at 1730, stop loss of 30 points, target from 1800 to 1840, and if broken, look at 1870.
For a southbound test point, aim for 1810 to 1250, with a defense at 1850, stop loss of 30 points, target from 1800 to 1750, and if broken, look at 1700.
Specific operations are based on real-time market data. For more information, please consult the author. There may be delays in article publication; this is for reference only and the risks are borne by yourself. $ETH