#ETH

Ethereum
Yesterday's review showed that Ethereum was in a low-range consolidation state, testing the support level of 3880 multiple times without breaking it. It rebounded and reached a high point of 4066 in the early morning. Currently, it has pulled back but has not broken the integer level of 4000. If it can stabilize above 4000, there may be further upward potential. The current market sentiment is somewhat bullish but not strong, although there are large funds supporting the price. However, if market sentiment continues to decline, it may trigger panic selling, which could lead to a significant drop in the price.
Technical Analysis
From the daily chart, it is currently in the rebound stage after piercing the lower Bollinger Band. The 4-hour chart is below the middle line of the Bollinger Band, which is opening downwards, corresponding to prices of 4239-4040-3840, with a fluctuating decline.
MA moving average indicator in the 4-hour chart and hourly chart, the short-term moving average are turning upward, if through the medium-term moving average to form a golden cross, the market accelerates, if the market stands firm MA5 corresponding to the price of 3983, MA10 corresponding to the price of 3960, will continue to hit the Bollinger Bands in the middle of the price corresponding to the price of 4040. Volatility rises
The MACD indicator is in the golden cross below the 0 axis for 4 hours, the bullish energy column begins to gradually strengthen, the bullish energy column weakens in the hourly chart, and the two lines run almost parallel above the 0 axis, and the market fluctuates sideways.
The RSI indicator is in the overbought phase on both the 4-hour and hourly charts. A death cross has formed on the hourly chart, and the market is oscillating downwards.
Conclusion: Sideways consolidation with a downward bias
Resistance levels: 4070, 4160, 4220
Support levels below: 4000, 3960, 3875
Long strategy: If the downward pullback does not break 3960, you can go long in the direction of the trend. If it breaks, you can establish a long position around 3880, add to the position at 3800, and set a stop loss if it falls below 3800.
First Take Profit: 4060
Second take profit: 4120
High-altitude strategy: If it doesn't break 4060 upwards, you can short accordingly. After breaking, establish a short position near 4150, add to the position near 4200, and set a stop loss at 4220 if it stabilizes.
First take profit: 3960
Second Take Profit: 3900