ETH Market Analysis

Since the 23rd, the price of ETH has oscillated between 1700 - 1880. During this period, a larger ascending channel and a short-term descending channel have formed. From the 4-hour chart, the recent oscillation rhythm has slowed down, presenting a sideways trend, with intensified short-term battles between bulls and bears.

Support Levels:

- Support 1: 1800, which is the middle track of the descending channel.

- Support 2: 1760, which is the overlapping point of the lower track of the ascending and descending channels.

- Support 3: 1740, coinciding with the previous pullback low and the MA120 moving average.

- Support 4: 1680, which includes the previous rebound high, the breakout acceleration starting point, and the MA200 bull-bear line.

Support levels 2 - 4 resonate together, providing multiple supports conducive to long position setups. However, as the intervals between each support level differ, investors need to differentiate between short-term and swing trading strategies. $ETH