#ETH

Ethereum
Yesterday's review showed that Ethereum experienced a narrow range of fluctuations during the day, oscillating between 4530 and 4480 for the entire day. In the evening, it dropped to around 4430, then rebounded to 4520. The support below is relatively strong, and it is currently in a high-level consolidation phase. Overall, the momentum for the rebound is not strong, and it is expected that the current trend will be maintained over the next two days. The volatility throughout the day was about 110 points, and the oscillation phase is actually the simpler phase for making trades, as technical indicators can provide more accurate price points.
Technical analysis
From the 4-hour Bollinger Bands perspective, the current market is in a bearish state below the middle band. However, there are signs of a rebound after the price pierced the lower band. If it can stabilize at the MA10 corresponding price of 4500, it will attempt to test the middle band corresponding price of 4558. Currently, all three lines are trending downward, and the market is experiencing fluctuations and a downward trend.
From the hourly chart, the MA moving average is in a composite crossover oscillation state. If the current market stabilizes above 4500, the short-term moving average will cross above the medium- to long-term moving average, forming a unilateral upward trend with sideways oscillation.
The MACD indicator shows a golden cross between the two lines, but the slow line is still below the 0 axis, and the fast line has not diverged significantly from the slow line, with both lines being nearly parallel. The bullish energy bars are gradually weakening. On the 4-hour chart, the two lines have not formed a golden cross, but the fast line has turned upwards and is about to form a golden cross for an upward movement, yet it remains in a bearish market below the 0 axis, with bearish energy bars gradually weakening. The market is fluctuating.
The RSI indicator is in the overbought zone with a death cross forming downwards, indicating a potential market pullback. In the 4-hour timeframe, the two lines are in the oversold zone with a golden cross forming upwards.
Conclusion: Sideways fluctuations are slightly upward.
Upper resistance: 4570, 4660, 4755
Support levels: 4450, 4400, 4330
Buy low points: If the market dips again to the 4430-4450 range without breaking, you can go long accordingly, add positions at 4350, and set a stop loss if it breaks below 4300.
First Take Profit: 4550
Second take profit: 4610
High-altitude point: The current market rebound momentum is insufficient. One can observe the breakout strength when the price rises to around 4600. If the strength weakens, consider shorting in line with the trend.
First take profit: 4510
Second take profit: 4450