Waves in the Coin Sea: 7.8 Ethereum (ETH) Market Analysis Reference:
The intraday trend of Ethereum is somewhat similar to that of Bitcoin. The daily candlestick pattern of Ethereum has ended a series of small bullish candles, and the upward momentum is beginning to slow down. The price remains above the medium-term moving averages, but bullish momentum is gradually diminishing, and various overbought indicators are starting to decline, entering a profit-taking phase. The short-term market is mainly characterized by high-level fluctuations; as long as the support at 1710 holds, there is still room for a rebound after the adjustment ends.
The 4-hour upward trend is nearing its end, with the market entering a corrective adjustment phase. Moving averages are forming resistance, and the MACD has entered a bearish arrangement, with declining selling pressure steadily increasing. Various indicators continue to trend downwards, and the short-term downward trend has already taken shape. The price is likely to continue testing the lower support; if it fails to regain the 1765 level for a while, the pullback will further continue. It is recommended to wait for a stabilization at a lower level after a pullback before entering long positions.
Waves in the Coin Sea: 7.8 Ethereum Short-Term Reference:
Short Position: Short in the 1805-1875 range, stop loss above 1855, target at 1750-1700,
Long Position: Long in the 1680-1710 range, stop loss below 1650, target at 1730-1780,
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The above analysis and strategies are for reference only; please bear the risks yourself. The article's review and release may be delayed and the strategies may not be timely. Do not operate blindly.
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