#ETH Technical Analysis:



1. Weekly Level: Yesterday's price broke upward, reaching the resistance at the upper boundary of the current bottom consolidation zone + Fibonacci 0.236 at 2150. Although the price is still within a downtrend channel, the long-term downward trend remains unchanged. However, there is a possibility of the price continuing to oscillate upward and rebound. Key resistance levels to watch are around Fibonacci 0.382 at 2370 and Fibonacci 0.5 at 2560.

In summary, weekly resistance levels to monitor are: 2150, 2370, and 2560.

2. Daily Level: Yesterday's candlestick closed as a large bullish candle with increased volume, but the upper shadow wick retraced back into the consolidation zone. Therefore, intra-day resistance at 2150 still needs to be confirmed. If the price continues to stay above 2150, it can refer to the harmonic butterfly pattern + the FVG gap above + the upper boundary of the downtrend channel + the weekly Fibonacci resistance at 2370.

Thus, if the price breaks above 2150 intra-day, it can be considered for long entries. If it pulls back within 2150, it can refer to the upward trendline on the daily chart for low buy entries. As long as the price does not fall below the fixed volume POC area starting point at 1965, the upward trend remains valid. A break below would indicate continued consolidation.

The Bollinger Bands still show a three-mouth opening and oscillation. Although the MA20 has turned upward, the structure remains in consolidation. To form a bullish pennant pattern, a bullish candle today is needed, with the Bollinger middle band MA20, the upward trendline, and the volume POC area resonating as support.

In summary, the bullish support is above 1965. As long as it does not break below, the outlook remains bullish; a break below suggests continued consolidation.

3. 4-Hour Level: Yesterday, the price strongly broke through the triangle consolidation pattern, reaching the upper boundary resistance of the box. A bearish engulfing pattern appeared, indicating a potential intra-day pullback. Both KDJ and RSI are near overbought zones and pointing downward.

If the price continues to decline toward the triangle's upper boundary + upward trendline support around 2060, a long position can be considered in this area, with stops below the fixed volume POC.

From a technical perspective, Vegas support can also be referenced. Yesterday's price broke through Vegas, and today a retest is expected.
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