$ETH

ETH Trend Update | Short-term Volatility, Still Bullish in the Medium-term

Recently, the Ethereum trend has entered a volatile range, appearing somewhat repetitive in the short term, but the overall structure hasn’t deteriorated. I still tend to remain bullish.

Looking at the 4-hour K-line, after the last surge to around 3874 and subsequent pullback, it indicates that there is some selling pressure above 3800. However, the current price remains stable above EMA30 (3777). Although the short-term volume is not strong, the pattern remains intact. The 1-hour level has also formed a small double bottom structure, with the bottom around 3716-3739, and whether it can break through 3816 upwards is crucial.

The MACD short-term death cross indeed leans bearish, but the daily MACD is still above the zero line, indicating that the overall direction remains strong.

RSI is not overbought, suggesting there is still upward space available.

Although EMA7 has flattened, the overall trend line is still moving upwards, with key support at EMA120 (3468) far from being broken.

In terms of volume, the recent trading volume has generally reduced, and the market is somewhat cautious. However, I interpret this as the main force not wanting to push too fast all at once, controlling the pace steadily. As long as the price does not break the key support level of 3700, I won’t panic.

My own operation is:

Buy in batches on dips at 3750/3700

Targeting 3850-3900, stabilizing at 3900 would provide an opportunity to reach the previous high of 3940+

Set a stop loss at 3670; if broken, I will exit

I have not changed my overall direction; I continue to be bullish. The volatility is just a process, and the pullback provides an opportunity to enter, so don't get shaken out by short-term movements.