#ETH

Ethereum
Yesterday's review of Ethereum showed that it was generally in a fluctuating upward trend during the day, rising from a low of 4330 in the morning to 4410 before moving sideways. Subsequently, evening data-driven news stimulated the market, leading to a fluctuation of 130 points. Recently, most news releases have maintained this fluctuation state, with positive news being realized with a delay. Currently, if next week's interest rate cut news is confirmed, there is a high probability of a top escape phenomenon.
Technical Analysis
The hourly Bollinger Bands are in an upward opening state, but the K line has pierced the upper Bollinger Band, indicating a possible technical correction. If the correction does not break below the middle Bollinger Band, there will be a second round of increases, or it may return within the Bollinger Bands to maintain a high-level sideways fluctuation. The three lines correspond to prices: 4496-4438-4382.
The MA moving average indicator is currently showing a short-term upward movement, presenting a unidirectional upward arrangement.
The MACD indicator's golden cross is rising above the 0 axis, with increasing volume of the upward momentum bars, indicating a continued rise in the market.
The RSI indicator is in the overbought zone, and the two lines have formed a death cross, indicating that there will be a period of downward correction in the market.
Conclusion: A volatile rise. If the current pullback does not fall below 4450, it will continue to rise.
Resistance levels: 4580, 4615, 4680
Support levels below: 4450, 4410, 4350
Today mainly focuses on low long positions.
Long Strategy: A long position can be established in the 4450-4460 range. If it does not drop below 4480, you can go long with the trend, add to the position at 4350, and set a stop loss at 4300.
First take profit: 4530
Second take profit: 4610