Surfing the Cryptocurrency Waves: 4.28 Ethereum (ETH) Market Analysis Reference:
Yesterday, Ethereum tested the upper resistance aggressively, but the subsequent bullish momentum was lacking, causing the price to quickly retract and fall below the starting point of this rally. At the time of writing, the price is consolidating within a narrow range around 2280. Observing from the daily chart, Ethereum's current price is below the middle line of the Bollinger Bands, and the short-term upward trend line has been breached, forming a retracement consolidation structure. In terms of technical indicators, the MACD's DIF and DEA lines have formed a dead cross, with bearish volume increasing. The RSI indicator has retreated to around 42, while the KDJ indicator’s three lines are diverging downwards, indicating a weak short-term adjustment state. In the moving average system, the short-term EMA has turned downwards, and the price has fallen below the 7-day and 15-day EMA, receiving only weak support near the EMA30 (2262). The daily level upward rhythm has slowed, entering a phase of consolidation and pullback, with 2200 being an important support level.
From the short-term hourly chart extended to the 4-hour level, after the price fell below the lower Bollinger Band, it experienced a slight rebound, currently being suppressed by the middle line of the Bollinger Bands. The moving average system shows a bearish arrangement, with the price continuously operating below the 7-day, 15-day, and 30-day EMA, clearly indicating a weak short-term pattern. In terms of technical indicators, the MACD indicator continues to weaken below the zero line, with the histogram continuously increasing; bearish momentum has not been fully released. The RSI indicator has retreated to around 36, and the KDJ indicator's three lines are in a low-level oversold range but have not yet formed a clear golden cross, indicating insufficient short-term rebound momentum. The upper range of 2300-2320 is a dense pressure area, and if it cannot effectively break through, the price is likely to continue weak fluctuations. If the support at 2260 fails, the pullback space will further open up towards around 2200. In terms of operation, prioritize a high short strategy, considering buying opportunities only after critical support stabilizes.
Surfing the Cryptocurrency Waves: 4.28 Ethereum Short-term Reference:
Short Position: Sell in the range of 2350-2320, stop loss at 30 points, target at 2300-2230,
Long Position: Buy in the range of 2200-2230, stop loss at 30 points, target at 2250-2320,
【The above analysis and strategy are for reference only. Risks are to be borne by the reader. The article may have delayed review and release, so strategies may lack timeliness. Please do not operate blindly】
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