Today's ETH K-line chart makes me sweat! The four-hour line plummeted from the high of $2900 directly to $2400, and is now stuck around $2520. Recently, a bearish candle formed in the four-hour chart, and trading volume shrank by 30%, what does this indicate? It indicates that both bulls and bears are playing a 'chicken game', neither daring to make the first move!
Three major technical signals, hiding deadly traps!
First, let's talk about this MACD indicator. The DIF line is below the DEA line, and the green bars are popping out like chives, what does this indicate? It indicates that bears are currently whipping the bulls! Now look at this KDJ indicator, the J value has skyrocketed to 106, like drinking a strong liquor, severely overbought! What does this mean? It means ETH has been rising too crazily recently, and it needs to take a break and digest the gains in the short term.
But don't panic, the middle track of the Bollinger Bands has now become ETH's 'lifeline', with the price hovering around this area and not dropping too much. If it can maintain the support level of $2472, then ETH can still bounce between $2472 and $2641. If it can't hold, it may need to explore the bottom.
There are undercurrents in the news, and whales are secretly accumulating!
Do you think this is the end? The market is deeper than it seems! Recently, whale accounts have been quietly buying ETH, accumulating 85,000 coins, what does this indicate? It indicates that large funds still have confidence in ETH's future. However, don't rejoice too early; the market sentiment is stable now, but you never know when the tide will turn.
Bottom fishing? First ask yourself if your heart is big enough!
Overall, ETH may still have to fluctuate in the short term, but the medium to long term outlook remains bullish. If you're itching to bottom-fish, you might as well wait for it to drop to around $2472 to $2495 before acting, with a stop-loss set below $2472 for safety. If you're doing short-term trading, you can pay attention to the range of $2541 to $2641, buying low and selling high to make a little profit.
Are you stuck? When will you bottom out? Still the same saying, feeling lost and helpless not knowing what to do, click on the avatar to comment. I need fans and you need references.
