#ETH

Ethereum Review from Yesterday
Yesterday during the day, Ethereum showed a range-bound consolidation phase. In the morning, the market fluctuated within a very narrow range of 4000-4030. After a drop to 3970 in the afternoon, it pulled back up and oscillated around the range of 3980-4030. Due to the weekend and the US stock market being closed, there was not much volatility, and trading volume remained relatively stable. According to Coinglass data, if ETH drops below 3819 USD, the cumulative long liquidation strength on major CEXs will be 1.048 billion USD; conversely, if it breaks above 4197 USD, the cumulative short liquidation strength on major CEXs will be 10.17 USD.
Technical aspect: From the 4-hour chart, it is currently rebounding after a drop to the lower Bollinger Band line. If the rebound does not stabilize at the middle line of 3993, the market will likely decline again. The Bollinger Bands are contracting, and the middle line is moving downward, corresponding to a market decline. The three lines of the Bollinger Bands correspond to prices 3874--3993--4111. From the 4-hour chart, the bullish momentum is starting to weaken, showing a trend that may break below the middle line.
The 4-hour chart shows that the short-term MA indicators are in a dual-line composite parallel formation. ETH is currently operating between the 5-day and 10-day moving averages, with the short-term moving averages in a composite crossing parallel formation. There is an upward golden cross trend, as well as a downward death cross trend, but it has yet to break out of the directional range. The hourly chart shows that the short-term moving averages are entering a parallel crossing, but there is a trend of turning downward, with bearish volume continuing. At this time, the market is operating below the 5-day and 10-day moving averages, corresponding to a market decline.
The MACD indicator on the hourly chart is parallel above the 0 axis, with a sustained bullish momentum, corresponding to a fluctuating market. On the 4-hour chart, it shows a parallel upward movement below the 0 axis with the lines aligned, while the bullish momentum starts to weaken, corresponding to a market decline.
The RSI indicator is at the oversold trading stage corresponding to the values 95.6---95.5. Currently, the dual lines are crossing parallel, entering the oversold stage. The market is experiencing a downward correction, but this may also lead to a renewed acceleration in the market's upward movement.
Conclusion: Sideways volatility chooses direction
Pressure: 4050-4150-4230-4360
Support: 3970-3860-3720-3620
High-altitude strategy: establish the first short position near 4150, add positions near 4230, and set a stop loss above 4360 if it breaks and stabilizes.
First take profit: 4050
Second take profit: 3880
Long Strategy: Establish a primary long position near 3850, add position near 3720, and set a stop loss below 3620 if it firmly breaks below.
First take profit: 3980
Second take profit: 4230