Wave Riding in the Crypto Sea: 3.13 Latest Market Analysis Reference for Ethereum (ETH)

Wave Riding in the Crypto Sea: 3.13 Ethereum (ETH) Market Analysis Reference:

This morning, Ethereum made a strong short-term rebound, successfully breaking through the 2100 resistance level, but the bulls failed to maintain the upward momentum and subsequently fell back after hitting a high. From the daily chart, ETH's current price is solidly positioned on the middle band of the Bollinger Bands and is approaching the upper band, indicating a gradual establishment of a bullish trend. The KDJ three lines are in a bullish arrangement and the J value is diverging upwards, while the MACD green bars continue to narrow, indicating a decrease in bearish strength. The RSI is also moving upwards, showing that the overall daily level bullish momentum is sufficient. However, short-term has accumulated some pullback pressure and needs to first consolidate to digest profit-taking before effectively breaking through the 2150 area to open further upside space.

On the 4-hour chart, the ETH price is running close to the upper band of the Bollinger Bands. The short-term bull is strong but has entered the overbought zone. The KDJ three lines are running at a high position and the J value has turned down. The MACD fast and slow lines are above the zero axis and the volume bars are continuously expanding, indicating that the medium-term bullish trend is still continuing. However, the RSI is approaching the overbought area and has turned down, indicating a clear short-term pullback signal. It is expected that the price will most likely first test the support near the middle band of the Bollinger Bands at around 2053, and if this position holds, it is likely to challenge the previous high of 2148 again. If it breaks below, it may test the support at the lower band of 1997. In operation, short-term caution is needed against pullback risks, and it may be wise to wait for stabilization after a pullback before making a trading decision.

Wave Riding in the Crypto Sea: 3.13 Ethereum Short-Term Reference:

Long Position: Buy between 2000-2050, with a stop at 1950 and a target of 2100-2150

Short Position: Sell between 2140-2190, with a stop loss of 30 points and a target of 2100-2050

[The above analysis and strategies are for reference only. Risks are to be borne by yourself. The article may have delays in review and publication, and the strategies may lack timeliness. Please do not operate blindly.]

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