A bigger one is coming! $ETH Key Area Operation Suggestions

Ethereum's current price is exhibiting significant fluctuations. From the moving averages, the short-term moving average EMA7 and the medium-term moving averages EMA20 and EMA30 show a bullish arrangement; that is, the short-term moving average is above, and the medium-term moving averages are below. The price is relying on the short-term moving average to move upwards, indicating that the overall trend from short-term to medium-term is still upward. Additionally, the short-term moving average provides clear support for the price; as long as the price does not drop below EMA7, the foundation for short-term rises remains.

The bandwidth of the Bollinger Bands has slightly expanded, with the upper band positioned at 2788.88, which is the direct resistance area encountered by the current price. The lower band is at 2395.96, which is a strong support level for the medium to long term. The middle band of the Bollinger Bands at 2592.50 is the key position for assessing the strength of short-term bullish and bearish trends. If it effectively falls below the middle band, it may indicate that the short-term upward momentum is hindered.

From the price trend formation perspective, the rebound since the low on May 24 has broken through the upper boundary of the consolidation range, approximately between 2650-2700, which has existed since April of last year. It is now in the phase of confirming the breakout and attempting to accelerate upward. The focus moving forward is whether the price can stabilize in the area of 2750-2790, near EMA7 and the upper Bollinger Band. If so, the next upward target may point to 2850 or even 2950.

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