ETH one-hour chart, current price 2699.48. 24-hour fluctuation range 2678.52-2708.25, after hitting the high of 2708.25, it slightly pulled back and is currently consolidating near the moving averages.
MA5, MA10, and MA20 are intertwined, indicating a balance between bulls and bears. The resistance above is at 2708; to continue rising, a volume breakout and stable hold above this level are needed; the support below is at 2678; if this support breaks, the market will retest lower levels.
Currently, volume is weak, and the bullish momentum to push higher is insufficient, indicating a consolidation phase after the rise. Short-term oscillations and shakeouts are expected; chasing the rise is not recommended. Be patient for a directional choice, control position size, manage risk well, and consider entering only after a clear breakout signal.
MA5, MA10, and MA20 are intertwined, indicating a balance between bulls and bears. The resistance above is at 2708; to continue rising, a volume breakout and stable hold above this level are needed; the support below is at 2678; if this support breaks, the market will retest lower levels.
Currently, volume is weak, and the bullish momentum to push higher is insufficient, indicating a consolidation phase after the rise. Short-term oscillations and shakeouts are expected; chasing the rise is not recommended. Be patient for a directional choice, control position size, manage risk well, and consider entering only after a clear breakout signal.
