#ETH

Ethereum
Yesterday's review, the overall Ethereum was in a low-level horizontal oscillation and consolidation phase during the day, with the oscillation range between 4210 and 4150. It did not break through 4230 on the upside or fall below 4120 on the downside. The market sentiment is difficult to determine the direction, unable to successfully organize a large-scale rebound, and currently dominated by bears. At present, if the market stops falling, a short-term long operation can be carried out at the current position. If the upper pressure is too high, it may trigger another dominant downward trend, testing the 4000 level again.
Technical Analysis
The 4-hour Bollinger Bands are opening downwards, and the market is running below the midline. There is currently a trend of stopping the decline, and if the current price stabilizes, there will be a rebound. The 1-hour Bollinger Bands are oscillating narrowly, and if the bulls break through with volume, there will be another upward trend.
The MA moving average indicator is in a bearish configuration on the hourly chart, with the short-term moving average below the medium-term moving average. The current market is above the short-term moving average. If it holds, it will break through the medium-term MA60 at a price of 4239 and target the MA120 at a price of 4360.
MACD indicator in the hourly chart, the two lines below the zero axis are parallel and rising, the bullish energy column is gradually increasing, the horizontal oscillation is biased towards an uptrend, the golden cross below the zero axis in the 4-hour chart, the bullish energy column starts to increase, and the oscillation is rising.
RSI indicator is in a normal trading phase on the 4-hour chart, with the two lines forming a golden cross for an uptrend. On the hourly chart, the two lines are parallel at the lower boundary of the overbought zone, indicating a sideways oscillation.
Conclusion: The market is consolidating in a sideways pattern. If it stabilizes above 4180, it will rebound to the 4230 range and initiate an upward rebound after stabilizing.
Upper resistance: 4230, 4280, 4310
Support below: 4120, 4070, 4000
Low long strategy: If the pullback does not fall below 4150, you can go long with the trend. After falling below, establish the initial position near 4100, add to the position at 4000, and stop loss if it falls below 3980.
First Take Profit: 4220
Second Take Profit: 4280
High-altitude strategy: If it breaks through 4300 without breaking, go short with the trend, establish the initial position above 4380 after the breakthrough, add positions at 4490, and stop loss at 4500 after the breakthrough stabilizes.
First Take Profit: 4300
Second Take Profit: 4220