A detailed analysis of Ethereum's trend and ideas for proper operation:
Yesterday's sell trades were influenced by news, and the trend immediately rose by 170 points, leading to stop-loss orders being triggered on profitable trades. No need to worry for friends who followed the operation; I will help you recover.
From analyzing the four-hour Ethereum price trend:
On the daily line level, a large bullish candlestick appeared with significant volume on March 23, indicating strong buyer intervention. The upward movement continued on March 24, but the lack of volume suggests that the short-term bullish momentum may weaken. On the 4-hour level, the price rebounded from the lowest point, and a medium-sized bullish candlestick with volume appeared at 12:00 on March 24, but the next candlestick (March 24 at 16:00) has a smaller body and decreasing volume, which may indicate that the short-term rise faces resistance or enters a consolidation phase.
Technical indicators:
MACD: On the 4-hour level, the DIF line has crossed above the DEA line to form a golden cross, and the positive MACD line continues to expand, indicating strong short-term bullish momentum and an upward trend. RSI: The RSI14 value on the 4-hour level is 56.96, in a neutral positive zone, after entering overbought territory, suggesting room for further rise but caution is needed to see if the strength can continue. EMA: On the 4-hour level, the price is above EMA7, EMA30, and EMA120, with moving averages in an upward order, indicating that short-term, medium-term, and long-term trends are all bullish. EMA7 (2143.26) and EMA30 (2135.38) form short-term support.
Trading volume:
On the daily level, the large bullish candlestick on March 23 was accompanied by significant volume, confirming the validity of the upward trend. Trading volume decreased on March 24 compared to the previous day; attention should be paid to whether volume can support continued price increases. On the 4-hour level, a large volume accompanied by sharp price fluctuations appeared on March 23, followed by a price decline. Recently, the upward volume has decreased, so be aware of the risk of short-term pullback.
Main resistance:
Pay attention to the first resistance zone above 2192-2200 (where the previous peak and the upper Bollinger Band intersect). If broken through, we may see a line at 2300; if resistance is encountered and a pullback occurs, watch the 2100-2115 (middle band support) zone.
Trading suggestions:
It is recommended to enter buy trades near 2160-2170 for Ethereum, with target points at 2200-2230. (Monitor in real-time whether the upward trend can stabilize above 2250; if it cannot stabilize above 2250, consider timely selling).
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