Ethereum Latest Market Analysis

Before publication, the current price of Ethereum is 3530. Liying observes that the current market combines technical aspects with external environments. From a technical perspective, the market has formed a strong evening star pattern, and with the price breaking below the short-term moving averages, it shows a clear signal of a downward trend. However, Liying notes that the long-term moving averages still maintain a bullish arrangement, indicating that the trend has not completely shifted to bearish, which provides some support for the market. Meanwhile, 3055, as a significant low point from earlier, is a strong support level that needs to be closely monitored for effective breakdown.

The 2-hour chart shows a retreat from the high, forming consecutive bearish candles indicating short-term weakness. There is significant selling pressure near the previous high of 3613. The daily support at 3500 remains intact. The MACD shows weakening momentum on the 2-hour chart, with daily bearish dominance. The EMA short-term moving averages are exhibiting a suppressive effect. At this time, Liying assesses that the market is likely oscillating at high levels, and one can consider going long near 3500, with risk management in place around 3650.

Short-term reference points:

Short position at 3550, stop loss at 3600, stop loss of 50 points, target at 3450.

Long position at 3450, stop loss at 3400, stop loss of 50 points, target at 3550.

The above content is exclusively original by Liying; please indicate the source when reprinting! There may be delays in article publication review, and market conditions change rapidly. The above suggestions are for reference only, and risks are borne by the reader. Liying hopes to be of help to you!

The content of the article is time-sensitive and for reference only; risks are borne by the reader.

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