The hourly trend is basically the same as Bitcoin, with the younger brother following the older brother, but Ethereum is noticeably weaker.
The daily chart shows a small bullish candlestick in the shape of a doji, with trading volume slightly higher than the two weekend days, but still within normal trading volume. The price continues to oscillate here.
The daily MA30 line has started to flatten after a downtrend, and the MACD is below the zero axis, showing a weakening upward momentum close to the zero axis.
The daily level still looks at how Bitcoin moves, while the pressure of the daily EMA52 line (1890) is decreasing, making it easier to break through here.
Ethereum has two possible trends ahead:
1. A large bullish candlestick breaks through the 1890 level, directly reaching the 2000-2120 range before pulling back.
2. Continuing to linger and follow Bitcoin, experiencing a wave of daily-level oscillation downward, returning to the 1600-1680 range for a second bottom test before rising again.
How it moves specifically depends on whether Ethereum can become more assertive.
The upward trend at the weekly level for Bitcoin has been confirmed, so Ethereum will definitely have a good upward performance as well.
Daily level resistance at 1890-2120-2310, support at 1740-1688-1540-1460
