Ethereum has experienced a relatively large trend in the past few days during the holiday. In the early hours of the 5th, it rebounded near 3445 and quickly tested lower, gaining support and rebounding near 3208 in the late session. After a day of oscillation and washing, the market rebounded to around 3400.

Ethereum market analysis: Because today is the weekend and the weekly chart has not closed yet, it is expected to form a long lower shadow candlestick for the week as a whole, rebounding with support from the 10-day moving average below, while attention should be paid to the resistance near 3460 above. On the daily chart, the market has repeatedly tested and rebounded near the lower rail around 3200, and other technical indicators also show a turning upward trend. Overall, there is a strong trend of market rebound, and attention can be paid to the resistance near the daily middle rail around 3435. In a few days, it will be the day of Bitcoin halving. The recent trend of Bitcoin has not been synchronized with Ethereum. If Bitcoin rebounds, it will drive the overall market to rebound. According to the trend of halving in 2020, there will be a long period of bull market after halving, especially now it is a transparent game, so it is necessary to guard against the possibility of the manipulator not following the routine and possibly testing lower levels again. It is best for everyone to set stop-loss orders when trading.

On the 4-hour chart, the market has tested and rebounded near 3200 for three consecutive times, showing a double bottom trend, and then encountered resistance near 3435 at the 0.5 Fibonacci retracement level, followed by a retracement and rebound. The market oscillated around 3320 near the 0.236 level all day yesterday, and rebounded again today. From a technical indicator perspective, the market rebound will be suppressed by the upper rail of the 4-hour chart and may experience retracement. If it can successfully break through the resistance at 3400 multiple times, then there will be a chance for the market to continue to rebound. Attention should be paid to the resistance at the previous high point of 3440, and a breakthrough will lead to further rebound. Today's operation suggests continuing to go long on retracement, and further upward movement if it breaks through 3400. Consider entering a short position only if the high point is not broken.

Operation suggestion: Real-time strategies are provided.

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Reminder: The strategy is for reference only. Trade with proper stop-loss and take-profit measures, and set profit-taking targets and trailing stop-loss to protect profits and avoid excessive profit loss.

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