#ETH

Ethereum
Last week's review showed that Ethereum was still in a relatively strong bullish market from the weekly perspective, but there are clear signs of a downward movement. The MA5 has turned downward, with support levels at 4293 and the support zone around 4280. If the price breaks below this range, the strength will weaken, and a rebound signal may appear. The MACD indicator on the weekly chart shows that the fast line is about to cross below the slow line, but it is still in a bullish market above the zero axis. In terms of the daily chart, last week was generally a transition from a bullish trend above the middle line of the Bollinger Bands to a bearish trend below the middle line. However, the daily Bollinger Bands have not started to open downward and show a tendency to expand outward. There is support from the MA60 below; if this range is not broken, an upward trend will be reignited.
Technical Analysis
From the 4-hour chart perspective, the current Bollinger Bands are opening downwards, corresponding to prices 4576-4478-4382, indicating a trend of oscillating downward.
The MA moving average indicator currently shows that the short-term moving average has crossed below the mid-term moving average, indicating a transition from a bullish trend to a bearish one, with a fluctuating downward trend.
The MACD indicator shows a death cross forming below the 0 axis, leading to a downward trend with oscillations, and the bearish energy bars are gradually increasing as they decline.
The RSI indicator is in the downward dead cross phase of normal trading.
Conclusion: Fluctuating decline turns into a unilateral decline
Resistance Levels: 4400, 4480, 4580
Support levels: 4280, 4220, 4170
High-altitude strategy: If the current market rebounds but does not stabilize at 4380, you can short in the direction of the trend. If it rebounds to around 4460, you can enter a short position, add to the position at 4580, and set a stop loss at a stable breakout above 4610.
First Take Profit: 4280
Second take profit: 4230
Long strategy: If the bearish strength weakens when the price drops to the dense support zone at 4280, you can go long accordingly. If it continues to break down, you can establish a long position around 4215, add to the position at 4080, and set a stop loss at below 4060.