From the daily chart perspective, the bullish trend is still ongoing, with the 5-day and 10-day moving averages forming a golden cross, and the current price is supported by the moving averages. However, on the hourly and 4-hour charts, the RSI has entered the overbought zone, and the red histogram of the 4-hour MACD has shortened, indicating that short-term consolidation or correction may be needed.
Market sentiment is supported by ETF expectations and BTC correlation, with a relatively warm medium-term atmosphere, but compared to Bitcoin, the upward momentum is noticeably weaker.
**Key Price Levels (USD terms):** Regarding support levels, the lower end of the intraday oscillation is around 3200, with the 24-hour low at 3180, and a more important medium-term support at 3150. Resistance levels to watch include the intraday high at 3260 and the psychological level at 3300—areas that often gather a lot of trapped positions.
**Trading Strategy:** If you already hold long positions, it is recommended to move your stop-loss up to 3200, then take partial profits in the 3250 to 3280 range to avoid potential pullbacks caused by overbought conditions. If you haven't entered a position yet, you can wait for the price to stabilize after a pullback to the 3200-3210 range, then try a small long position with a target of 3260; however, if the price falls below 3200, it’s better to stay on the sidelines or exit. For short positions, only consider small shorts when resistance is encountered between 3260 and 3300 with volume decline, setting a stop-loss above 3320, and targeting 3200.
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GasGrillMaster
· 22h ago
3280, we need to cash out quickly here. Overbought conditions make it unpredictable when it might drop.
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SquidTeacher
· 01-07 21:56
Overbought is overbought. Anyway, I am a bullish die-hard and won't change my stance. If we can't hold the 3150 level, we'll see.
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GasFeeLover
· 01-06 13:41
It's so obvious that it's overbought, yet you're still holding on stubbornly. I don't have the guts for that. See you at 3200.
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MidnightMEVeater
· 01-06 13:33
It's the same old trick, golden cross, overbought, staggered profit-taking... the old routine in the arbitrage zone of the robot playground.
Can it hold the 3200 level? I think it's uncertain.
Those still watching the market at 3 a.m. are just feeding the market; this volatility is weaker than BTC, and the trapped positions are waiting at 3300.
The gamblers are at it again, trying long with small positions, trying short with small positions—just asking, are you tired yet?
The RSI overbought signal has long been understood by robots, and the price surges come really fast.
From the daily chart perspective, the bullish trend is still ongoing, with the 5-day and 10-day moving averages forming a golden cross, and the current price is supported by the moving averages. However, on the hourly and 4-hour charts, the RSI has entered the overbought zone, and the red histogram of the 4-hour MACD has shortened, indicating that short-term consolidation or correction may be needed.
Market sentiment is supported by ETF expectations and BTC correlation, with a relatively warm medium-term atmosphere, but compared to Bitcoin, the upward momentum is noticeably weaker.
**Key Price Levels (USD terms):** Regarding support levels, the lower end of the intraday oscillation is around 3200, with the 24-hour low at 3180, and a more important medium-term support at 3150. Resistance levels to watch include the intraday high at 3260 and the psychological level at 3300—areas that often gather a lot of trapped positions.
**Trading Strategy:** If you already hold long positions, it is recommended to move your stop-loss up to 3200, then take partial profits in the 3250 to 3280 range to avoid potential pullbacks caused by overbought conditions. If you haven't entered a position yet, you can wait for the price to stabilize after a pullback to the 3200-3210 range, then try a small long position with a target of 3260; however, if the price falls below 3200, it’s better to stay on the sidelines or exit. For short positions, only consider small shorts when resistance is encountered between 3260 and 3300 with volume decline, setting a stop-loss above 3320, and targeting 3200.