#ETH

Ethereum review yesterday
Yesterday during the day, Ethereum showed a unilateral downward trend. After the market declined during the day, the rebound did not break through the middle track line, resulting in the lack of an effective rebound momentum. It wasn't until late at night that it continued to drop to the support level of 3820 before showing signs of a rebound. After all recent positive news has been exhausted, there are currently no new messages that could stimulate the market again, leading to a phenomenon of capital outflow and profit-taking, causing Ethereum to continue to decline and wash out liquidity at lower levels.
Technical level: From the 4-hour chart, it is currently in a rebound after falling to the lower Bollinger Band line. If the rebound does not break above and hold steady at the middle band line of 4102, the market will decline again. The Bollinger Band is opening up, and the middle band line is declining, corresponding to a market downtrend. The Bollinger Band lines correspond to prices of 3897--4102--4307. From the 4-hour chart, the bearish momentum is gradually weakening, showing a potential for further upward testing.
The 4-hour chart's short-term MA indicator shows a turning trend. ETH is currently trading below the 5-day and 10-day moving averages, with a movement attempting to test the 10-day moving average upwards. The short-term moving averages on the hourly chart have crossed upwards, and bullish volume is starting to increase. The market is currently trading above the 5-day and 10-day moving averages and is testing the mid-line of the hourly chart at a level of 3949, corresponding to a market rise.
The MACD indicator on the hourly chart is in a golden cross above the 0 axis, with bullish volume increasing, corresponding to a price uptrend. On the 4-hour chart, it shows a double line parallel below the 0 axis, with the fast line starting to turn upwards, indicating a trend towards a golden cross, while bearish volume begins to weaken, corresponding to a price uptrend.
The RSI indicator is at the oversold trading phase corresponding to the value of 22---7. Currently, after the double line golden cross is moving upwards, it continues to rise and aims to enter the normal trading phase, corresponding to a market increase.
Pressure: 4020-4160-4310-4450
Support: 3820-3720-3520-3380
High-altitude strategy: establish a short position near 4150, with an additional buying point around 4300. If it breaks and stabilizes above 4450, stop loss.
First take profit: 4025
Second take profit: 3830
Long Strategy: Establish a primary long position around 3830, add positions near 3720, and set a stop loss if it falls and stays below 3520.
First take profit: 3950
Second take profit: 4160