Candlesticks and Trading Volume: The daily chart closed with a large bearish candle, which dealt a significant blow to bulls and formed an evening star bearish pattern. However, there's no need to panic. Currently, this is the first pullback after the price broke through the resistance near 2165. With 2165 resistance now turning into support and short-term resistance proving effective, this position is suitable for medium to long-term trading with a stop loss around 2060. In the short term, you can engage in long trading based on support around 2165.
Moving Averages: The 60-day MA shows resistance at 2232, with daily MA support levels at 2159, 2078, and 2036 respectively. The 4-hour support levels are 2134 and 2065, with resistance at 2242 and 2270 nearby.
MACD: The 4-hour chart shows a death cross, with energy bars decelerating as the downtrend temporarily halts. The 1-hour chart is forming a golden cross, suitable for ultra-short long positions.
Bollinger Bands: The daily chart's Bollinger Band middle band support is at 2078, with upper band resistance at 2311. The 4-hour Bollinger Bands are temporarily holding support; you can engage in long trading with 2150 as the stop loss level, targeting the 4-hour middle band.
Under current market conditions, the downtrend is quite strong. Three resistance levels should be sufficient for now.
Personal suggestions for reference only: The daily uptrend has suffered serious damage, so don't blindly be bullish. The short-term trend is ranging; execute high sells and low buys for ultra-short trading without rigid patterns. It's more prudent to wait for the short-term consolidation to end before trading with the trend.
ETH Trend Analysis
Candlesticks and Trading Volume: The daily chart closed with a large bearish candle, which dealt a significant blow to bulls and formed an evening star bearish pattern. However, there's no need to panic. Currently, this is the first pullback after the price broke through the resistance near 2165. With 2165 resistance now turning into support and short-term resistance proving effective, this position is suitable for medium to long-term trading with a stop loss around 2060. In the short term, you can engage in long trading based on support around 2165.
Moving Averages: The 60-day MA shows resistance at 2232, with daily MA support levels at 2159, 2078, and 2036 respectively. The 4-hour support levels are 2134 and 2065, with resistance at 2242 and 2270 nearby.
MACD: The 4-hour chart shows a death cross, with energy bars decelerating as the downtrend temporarily halts. The 1-hour chart is forming a golden cross, suitable for ultra-short long positions.
Bollinger Bands: The daily chart's Bollinger Band middle band support is at 2078, with upper band resistance at 2311. The 4-hour Bollinger Bands are temporarily holding support; you can engage in long trading with 2150 as the stop loss level, targeting the 4-hour middle band.
Under current market conditions, the downtrend is quite strong. Three resistance levels should be sufficient for now.
Personal suggestions for reference only: The daily uptrend has suffered serious damage, so don't blindly be bullish. The short-term trend is ranging; execute high sells and low buys for ultra-short trading without rigid patterns. It's more prudent to wait for the short-term consolidation to end before trading with the trend.