ETH:
On the weekly chart, we see that the market has rebounded continuously for 6 cycles. The early retracement found support near the 5-day moving average and rebounded. From the technical indicators, there are some signs of a downward turn. If there is a negative line this week, it will end the six consecutive weeks of rising momentum. It is worth noting that this week is also the time for the Ethereum Cancun upgrade. Looking back at the situation after Shanghai's upgrade last year, the market experienced a wave of correction, and the good news eventually turned into bad news. Although this time there is support from the halving of the pie, we still need to be wary of similar situations happening. Therefore, everyone should be cautious when chasing long, and you can wait for a retracement before going long, especially when a pin situation occurs.
On the 4-hour chart, we see that the market dipped for a time, fell to near the 60-day moving average below, then stopped the decline and rebounded, showing a bottoming trend. After falling below the lower rail support in the morning, the market showed a closing phenomenon. Now we can first focus on the pressure near 3860 at the 0.5 Fibonacci retracement line above. If it can successfully break through, the market will have the opportunity to hit the resistance near 3895 at 0.618 above. Judging from the 1-hour chart, the market's retracement shows a trend of stabilization. Today's operation advice is still to focus on long orders. Unless the upper pressure is broken, short orders will be considered, but stop losses must be set.
[Friends who are not sure about the flight situation and are trapped can consult the beast caller]
Today's score of ZRX is 90 points. The recent rebound in aviation conditions has been relatively strong, and the long and short competition has become more fierce. Placing orders will definitely bring good losses.
