Evening analysis of ETH on April 16, support and resistance and practical strategies explained thoroughly

ETH surged to 2346, and many friends started to hesitate: Should I exit my long positions? Can I still enter now? The confusion in the cryptocurrency world mostly comes from not being able to see the trend clearly and not holding onto positions. Today, I will use two charts, the daily K and the 4-hour chart, to clarify the current market logic, key levels, and operational strategies for ETH, without useless information, only providing actionable insights. After reading, you'll know how to proceed next.

The daily candlestick chart has successfully risen above multiple EMA moving averages, gradually establishing a bullish trend. The MACD red bars continue to expand, with bullish momentum dominating; the DIF and DEA are continuously rising above the zero axis, with no signs of a turnaround. The Bollinger Bands have shifted from convergence to expansion, with prices gravitating towards the upper Bollinger band, indicating that the daily upward trend is continuing. The key support level is near the middle Bollinger band around 2190; as long as it holds, the bullish trend is unlikely to reverse.

The 4-hour moving average system maintains a bullish arrangement, with EMA15, EMA30, and EMA60 all rising sequentially, creating layers of support. Though the MACD red bars have slightly decreased in volume, they remain above the zero axis, and the DIF and DEA have not formed a death cross, indicating that bullish momentum is not exhausted. The Bollinger Bands are opening upwards, with prices operating near the upper band; there is short-term resistance around 2440 near the upper band and support at 2200 near the lower band. The probability of continuing the current trend is high, and there is still room for an upward surge.

Evening north-south entry reference

North entry at 2320-2325, stop loss at 2295, target at 2365-2390

South entry at 2390-2410, stop loss at 2420, target at 2340-2315

Stay calm in your mind, not trapped by emotions, and strategize thoroughly to win from a distance. With a vast river, just take one ladle, take what you need, avoid greed, and don't fight aggressively; being flexible and steady in your investments is the way of the wise.

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