December 13 ETH Strategy Analysis
Conclusion: The market is volatile, with a range between 3098-3061
Support levels: 3042, 2984
Resistance levels: 3112, 3156
If it does not break below 3042, one can go long, add positions at 2984, with a self-set stop loss, first take profit at 3112, second take profit at 3156. If it does not break above 3112, one can go short, add positions at 3156, with a self-set stop loss, first take profit at 3042, second take profit at 2984.
ETH four-hour chart, currently the market is in a technical pullback after a significant decline, with the Bollinger Bands trending downward, corresponding prices for the three lines: 3205, 3406, 3023, the one-hour chart also shows the Bollinger Bands trending downward.
On the four-hour chart, the short-term moving average ma5 has turned down and crossed below ma10, ma30, with ma10 trending downward, ma30 horizontal, the market has pulled back above ma5, the one-hour chart shows the short-term moving average ma5 horizontal, ma10 turning upward, ma30 trending downward, the market is attempting to stabilize above ma5.
On the MACD four-hour chart, the two lines are trending downward, with bearish momentum weakening. On the one-hour chart, below the zero axis, the fast line crosses above the slow line from below to form a golden cross, trending upward, with bullish momentum increasing.
On the RSI indicator, the four-hour chart is in the overbought trading stage, with the fast line crossing above the slow line from below to form a golden cross, corresponding values are 8, 5, on the one-hour chart in the oversold trading stage, the two lines are trending upward, corresponding values are 78, 97.
