Crypto Scholar: Can Ethereum at 12.9 crush the previous high resistance level, or is it inevitable to move south? Latest market analysis and short-term strategy reference
Ethereum is currently priced at 3125, and it is now 5 AM Beijing time. Has the first target of 3170 been reached? Clearly, it has been reached and the resistance is effective, so profit can be taken at 3170 from 2950 northward, with not much space of 220 points. However, the position of the bullish indicators on the daily line over the past three days is not ideal, and the main force is encountering obvious resistance at 3170, unable to effectively break through. If an entity is formed, then there is no need to rush to leave this upward trend; it is better to wait for a break in pressure or support before finding a position to enter.
Before the publication of the daily K-line, the highest was 3180 and the lowest was 3038. The EMA trend indicator continues to shrink upwards, and the K-line has been continuously stretching upwards after crossing the EMA15 trend line of 3050 for three consecutive days. It is evident that the aim is to prepare for the assault on the 3170 resistance level. Whether the previous high can be broken in one go will take time to determine. If it breaks, then it can proceed northward; if it cannot break, it can also attempt to move south. The MACD shows increased volume, with the DIF and DEA expanding upwards. The Bollinger Bands are contracting, with the upper band focusing on 3215, the lower band on 2735, and the middle band still at around 2980.
The four-hour K-line needs to show stronger bullish performance, as the K-line has been testing below the resistance level of 3170. The MACD continuously shows increased volume with a golden cross formed by the DIF and DEA. Overall, the bullish trend is currently clearly continuing. The upper Bollinger Band is focused on 3154, and the lower band on 2980; both are contracting. However, the upper band has already lost support several times, indicating that the bullish strength is greater than the bearish. Now we just need to wait for signal confirmation; once confirmed, entry can be made.
Short-term reference: (Practical data has been updated; please consult the author for details)
Southward test positions are at 3200 to 3240; if broken, targets are seen at 3280 to 3330, and if broken, 3380 to 3420.
Northward test positions are at 3200 to 3240; if not broken, targets are seen at 3150 to 3100, and if broken, 3050 to 3000.
Specific operations should be based on real-time market data. For more information, please consult the author. There may be delays in article publication; suggestions are for reference only, and risks are borne by the reader.
