Ethereum over the weekend saw similarly limited daily fluctuation. On the daily timeframe, the prior push toward the high at 2666 was met with resistance and the price pulled back; price has been ranging around the Bollinger middle band near 2471. The Bollinger Bands have started to tighten (converge). Bearish volume and momentum are gradually releasing, while upward momentum has clearly weakened. Bulls and bears are now contesting around the Bollinger middle band. Above 2540–2550 is a strong resistance zone. The Bollinger middle band at 2470 is the daily pivot line; once there is a valid daily close below it, the daily trend will further weaken. Support below is around the Bollinger lower band at 2399.
4-hour timeframe: Higher highs keep giving way to lower highs. Price is trading below the Bollinger middle band, and the Bollinger Bands are opening downward with divergence. Bearish momentum continues to release; in the short term, conditions remain weak. After testing the 2460 low on the 1-hour timeframe, the price then consolidates slightly for a repair. Price remains under the Bollinger middle band, and the Bollinger Bands are tightening downward. The strength of any short-term rebound is weak, and the upside repair space is limited.
Overall approach:
On the larger cycle, it’s a tug-of-war between bulls and bears; in the short term, focus on selling at rebound highs.
If the rebound reaches the 2510–2540 area, look to short with targets at 2450–2400. If price breaks down, follow the trend and look lower to 2350 #比特币四周内第三次单块重组 $ETH
4-hour timeframe: Higher highs keep giving way to lower highs. Price is trading below the Bollinger middle band, and the Bollinger Bands are opening downward with divergence. Bearish momentum continues to release; in the short term, conditions remain weak. After testing the 2460 low on the 1-hour timeframe, the price then consolidates slightly for a repair. Price remains under the Bollinger middle band, and the Bollinger Bands are tightening downward. The strength of any short-term rebound is weak, and the upside repair space is limited.
Overall approach:
On the larger cycle, it’s a tug-of-war between bulls and bears; in the short term, focus on selling at rebound highs.
If the rebound reaches the 2510–2540 area, look to short with targets at 2450–2400. If price breaks down, follow the trend and look lower to 2350 #比特币四周内第三次单块重组 $ETH
