Is Ethereum 2790 northbound effective? How strong is the rebound under the indicator divergence?
The current price of Ethereum hovers around 2803, at 5:20 AM Beijing time. Reviewing this round of market, the price surged from the 2800 line to the 3000 mark, then retreated from 2950 to the 2800 range, completing a round of dual-directional market movement; currently, the northbound position based on 2780 is being held, just keep the rhythm to synchronize the profits, and I hope everyone can seize this wave of market dividends.
From the daily level, before the press release, the price reached a high of 3000 and a low of 2774, and the EMA trend indicator maintains a slow downward trend. Key support can be focused on the golden ratio 0.618 line at 2750, while resistance looks towards the golden ratio 0.5 corresponding to 3170; the MACD volume has contracted but funds show signs of accumulation, the DIF and DEA dual lines are expanding downwards forming a death cross, with a clear bearish trend in the larger cycle. The price is running to the lower support area of the Bollinger band at 2770, with the mid-band pressure focusing on 3050, the intermediate level has entered an extreme oversold range, and the rebound demand has significantly increased, making the northbound strategy at the 2800 line effective.
In the four-hour cycle trend, the previous head and shoulders pattern has completed its final stage, and a new market pattern is gradually being constructed. Thus, it is judged that the extreme position of this round of southward adjustment may stop at 2750, and the northbound at 2800 is still valid, with the defensive position set directly at 2750, and the specific stop-loss can be flexibly adjusted according to real-time market changes. The MACD volume maintains a state of expansion, as long as the market does not further decline, the northbound momentum will continue to be released after the golden cross of the DIF and DEA dual lines is formed. The price previously broke through the mid-band of the Bollinger band at 2915 and then fell back, stabilizing at the lower band of 2800, and the upper band pressure is at 3025; the main force is likely to start a new trend at the 3000 mark, whether this round of northbound can directly target the 3170 resistance, let's wait and see.
