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Dear veterans of the currency circle, today let’s talk about the trend of Ethereum (ETH). ETH has been on a roller coaster these days. After reaching a high of 4254 in the early stage, it crashed downwards. Now it is hanging around 3936. Many people are asking, is this wave a correction to accumulate momentum or a complete cool down?  Let’s look at the price trend first. From the high point of 4254, ETH is like a deflated ball, falling all the way to the current level of 3936. Now there are two key positions that we need to keep an eye on: the lower support to see if 3840 can withstand it, and further down there is the early low of 3707 to cover the bottom. ； The upper resistance depends on the 4059 level. Only when it breaks through can there be hope. Let’s talk about the moving average. The short-term 7-day moving average has been broken down, which shows that it is very difficult to rise in the short term. The mid-term 25-day moving average is at 4059, and the long-term 99-day moving average is at 3971. The price is now below the 99-day moving average, and the medium-term trend is obviously bearish. The trading volume is not optimistic either. There was no shrinkage when it fell, indicating that selling is still pouring out and the short-term adjustment momentum has not passed yet. To sum up, there is a high probability that ETH will still have a weak correction today. If the 7-day moving average (3953) cannot be taken back quickly, it is likely to continue to test the support of 3840. Of course, if the volume can exceed the 25-day moving average (4059), it may be able to reverse. Therefore, all you veterans should be careful about the risk of callbacks when operating. You must pay close attention to the breakthrough or falling signals of key points. Don't blindly operate and trap yourself. 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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