📣Ethereum trend continues to break through, and the upward momentum is insufficient, so you can take a short position!
Last week, I summarized the trend of Ethereum for everyone, forming a "W" trend. From the current trend, it has been verified, and I have given you the suggestion to take a long position at a high position and short at a high position. From the overall benefit point of view, it is still quite good.
[Analysis of Ethereum price trend in four hours]
K-line pattern:
The daily level shows that the price has continued to rebound recently, forming multiple positive lines, and the overall trend is oscillating upward. In the 4-hour cycle, the latest K-line is a positive line with a long lower shadow, indicating that there is strong buying support at a low level.
Technical indicators:
MACD: The red column of the daily MACD gradually enlarges, indicating that the bullish momentum is increasing; the 4-hour MACD fast and slow lines are golden cross upward, and the bulls are dominant.
RSI: The daily RSI is hovering near the overbought zone (62.66), and may face pullback pressure in the short term; the 4-hour RSI is in a healthy range (58.66), and there is still room for growth.
EMA: The price has broken through the EMA7 and EMA30 moving averages and is far away from EMA120. The short-term trend is strong. EMA7 provides dynamic support for the price.
Trading volume:
The daily trading volume has remained at a high level for three consecutive days, with obvious capital inflows and increased market activity. The 4-hour trading volume increased significantly in the latest positive line, indicating that the bulls are concentrating their efforts to push prices up.
Sharing of the idea of stable operation of Ethereum on the evening of 5/27:
It is recommended to enter the market with short orders near Ethereum 2640-2660, and the target point is: 2620-2580-2640.
The trend continues to rebound, and it is recommended to cover positions near 2690 and continue to short, and the target point remains unchanged!
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