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The currency market is like a annoying little goblin, neither rising nor falling. ETH is now stuck in this embarrassing position. As Haiou, a senior currency blogger who keeps an eye on the K-line chart, today I have to break down the 4-hour chart of ETH in plain English - after all, if you understand the trend, you can avoid pitfalls and eat more.  Let me first sort out the recent market trends for everyone, so that I can have an idea. After ETH reached a high of $4253.72, it fell like a kite with a broken string. It fell to a minimum of $3680 before it stabilized. Then it began to slowly rebound. The price is now hovering around $3854.30. To put it simply, it is the recovery stage after a sharp decline in the early stage. There is no clear direction, and it is a typical "shock recovery" market trend. Next, we will focus on the key price, which is the core for us to judge the trend. In the short term, there is a tough nut to crack at the top - $3,903.75. This position is unusual. It is both the pressure level of the MA99 moving average and the platform for previous price consolidation. It is equivalent to a double line of defense. It is not that easy to break through. If we can actually rush through and the trading volume increases, we will most likely reach $3920.26 (MA25 moving average), or even head towards the $4,000 integer mark. Looking below, US$3777.53 is an important support. If it falls below, the previous rebound may be in vain, and it is likely to return to the previous low of US$3680. Everyone must be mentally prepared in advance. Let’s talk about technical indicators to add a layer of buff to everyone’s judgment. Let’s look at the moving average first. The MA7 moving average is now $3859.46, which is almost close to the current price, indicating that the short-term long and short sides are evenly matched, and no one can take advantage. The MA25 and MA99 moving averages are still pressing above, at $3920.26 and $3940.40 respectively, which means that the overall trend has not reversed yet, and there is considerable resistance on the way to rebound. Looking at the trading volume, during this rebound, the trading volume did not increase much at all. To put it bluntly, the buying force was not strong enough, and no one was willing to invest real money to push up the price. Therefore, whether the rebound can be sustained depends on whether the subsequent volume can keep up. Based on this information, Haiou’s conclusion for everyone is very clear: ETH is likely to be dominated by shocks today, with the main range being between US$3,777 and US$3,900. It won't rise or fall sharply, it will just wander back and forth within this range, testing everyone's patience. I would like to remind everyone in terms of operation, don’t mess around. The safest thing now is to trade according to the range. The price is close to $3,900. Don’t blindly pursue long positions without a breakthrough. ； It is close to $3,777. Don’t rush to short until it falls below. Only when the price really breaks through $3,900 and the trading volume increases, or falls below $3,777, can you follow the trend and then operate along the trend, so that the risk will be small. In addition, you must control your positions. There are many false breakthroughs and false falls in the volatile market. Don't place heavy bets, otherwise you will easily be "slapped" by the market. At present, ETH is still grinding in this range. Whether it can break through the key price in the future, quantity and energy are the key. Seagull will continue to keep an eye on the market changes, and will synchronize with everyone immediately when there is a breakthrough or position breaking signal. Finally, there is the old saying: Fluctuations in the currency market will test your mentality. Understand the trends and do not be blind. Preserving the principal is more important than anything else. Don’t lose your chips in the fluctuations. Follow me Haiou, I will share more practical and detailed layout skills in the VIP group in the future to help you survive stably in the currency circle.  |
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