3.28 Cryptocurrency Mr. Coin: Ethereum (ETH) Market Analysis Reference

Ethereum's current price is 1985. The daily chart has not been looking good these past two days, with consecutive bearish candles. In the last two days, a very obvious double top structure has formed, with highs around 2171 and 2075. Once the double top appears, the bearish momentum increases. Yesterday's root candle is more interesting as it plunged down with a long lower shadow, hitting a low around 1958, indicating that buying support is starting to emerge below. However, whether this support can hold still needs further observation. Switching to the hourly chart, the current price is basically oscillating back and forth in the range of 1970 to 1996, with no clear direction. But note that at 4 AM today, a single bottoming candle formed on the hourly chart, with a low of 1979, indicating that short-term support is starting to strengthen.

In terms of indicators, the daily MACD has confirmed a dead cross, with DIF and DEA values at -1.2 and 10.5 respectively, and the histogram has also turned negative, indicating that the bearish momentum on the daily level has not yet been fully released. However, a signal has appeared on the hourly level—MACD has just formed a golden cross, with values around 4. Although the strength is weak, it at least indicates that there is a demand for a short-term rebound. The moving average system is still in a bearish arrangement, with the price being pressured by all EMA moving averages, and the 7, 30, and 120 are all above. The position at 1986 on the hourly chart is particularly critical, as EMA7 is here; for the price to move up, it must first stabilize above this line. Overall, the large cycle is still dominated by bears, but the small cycle has shown some rebound signals; whether it can rise depends on whether the position at 1986 can be effectively broken and stabilized above 2000.

3.28 Short-term Reference for Ethereum:

Range of 2095-2065 for protection, defend at 2280, target below 2020.

Range of 1960-1910 for protection, stop loss at 50 points, target above 2000.

The chapter is sent with a delay; strategy suggestions are for reference only. Market conditions change rapidly. Regardless of how high your confidence is in market judgments, always set take profit and stop loss to secure gains.

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