#ETH

Ethereum
In yesterday's review, Ethereum maintained an overall fluctuation in the range of 4620 to 4570, with a total fluctuation of no more than 100 points. Both buying and selling volumes in the market are gradually shrinking, and market sentiment is becoming increasingly cautious. Although the interest rate cut has been implemented, the previous price increase before the cut has already realized some of the positive space. If there are no significant positive developments in the near future, market sentiment will continue to be cautious, and the upward momentum will weaken with each attempt.
Technical Analysis
From the 4-hour perspective, the Bollinger Bands are moving upward with oscillating increases, with the three lines corresponding to prices 4630-4537-4445. If there is a pullback that does not break below the middle band, it will continue to rise.
According to the MA moving average, the short-term moving averages are gradually crossing above the mid-term moving averages, indicating that a one-sided upward trend arrangement is about to form. Currently, on the hourly chart, the short-term and mid-term moving averages are in a composite crossover state, but the short-term moving averages are overall above the mid-term moving averages. The market is experiencing a fluctuating upward movement.
In the 4-hour MACD indicator chart, there is a golden cross above the 0 axis, with the bullish energy bars increasing in volume. In the hourly chart, the two lines are about to form a golden cross above the 0 axis, while the bearish energy bars are weakening, showing a fluctuating upward trend.
The RSI indicator on the 4-hour chart has returned from the overbought area to the normal trading phase, with both lines parallel. The hourly chart shows a golden cross with the lines moving upward in the normal trading phase. The market is fluctuating upwards.
Conclusion: Fluctuating upward
Resistance levels: 4670, 4760, 4815
Support levels below: 4560, 4500, 4460
Long strategy: Open a long position near 4500, if it retraces without breaking 4570 then go long with the trend, add position at 4415, stop loss at 4350.
First Take Profit: 4680
Second take profit: 4750
High-altitude strategy: short position near 4800, add position at 4950, stop loss if it breaks and stabilizes above 5000.
First Take Profit: 4710
Second Take Profit: 4630