ETH/USDT Market Analysis

Currently, Ethereum (ETH) is fluctuating around $2652.81. From the daily chart, Ethereum has experienced a strong rebound, but it is now close to the previous high point of 2769, creating upward pressure in the short term. Next, we can focus on whether there is a possibility of a false breakout. Below are specific analyses and trading suggestions.

Technical Analysis

Moving Averages: The short-term moving averages MA(7) and MA(25) have turned upward, forming short-term support; MA(99) is at the 2606 level, exerting some pressure on the price. The short-term trend is bullish, but if it breaks through 2606 and cannot stabilize, there may be a need for a pullback.

Volume: Recently, several candlesticks have accompanied an increase in volume, indicating that the bulls have a certain intention to attack, but whether this volume will continue needs to be observed.

RSI: RSI(6) is at a relatively high level of 67, indicating potential pullback risks in the short term. It is recommended to closely monitor whether there are signs of increased volume on the downside.

Trading Suggestions

Long Strategy

Long Entry Points: Consider lightly entering long in the 2580-2600 range, where there is moving average support. If there is a pullback to this area, there is still upward potential.

Take Profit Target: The first target is 2720; if it breaks through, look towards the previous high point near 2769.

Stop Loss Level: Keep it below 2550; if it falls below, it indicates insufficient bullish momentum, and timely stop-loss is needed to observe.

Short Strategy

Short Entry Points: Consider lightly entering short in the 2760-2770 range, as this is the previous high resistance level, with short-term downside risks.

Take Profit Target: Looking at 2620 in the short term, further down to 2580.

Stop Loss Level: Set above 2785 to prevent losses from further upward movement if the previous high is broken.

#BinanceBlockchainWeek #狗狗币创数月新高 #Consensys裁员20% #美国职位空缺降至3年来最低水平