Recently, market expectations for future interest rate cuts in the United States have heated up, boosting the overall risk appetite in the crypto market. Funds are beginning to flow back into mainstream assets, and Ethereum, as one of the leaders, naturally attracts attention from investors.
Before the price increase, there has been a period of decline or consolidation. The RSI indicator may have entered the oversold zone, attracting technical buying for bottom fishing. At the same time, the MACD indicator formed a golden cross at a low level, which is a technical signal for a short-term stop and rebound.
From the 1-hour K-line chart, ETH is currently in a narrow oscillation box, near the lower edge of 2900-2950 USD. If it cannot regain and stabilize above 2950 USD with increased volume, it may test the support at the 2900 USD level again.
Long and short momentum analysis: The MACD indicator's DIF is below the DEA, and the histogram is negative, indicating that the short-term upward momentum is weakening, and bearish forces have a slight advantage. The RSI indicator is in a neutral to weak area, not entering the oversold zone, and there is still room for decline.
Trading volume ability: From the transaction amount and order situation, the current capital activity level is average, with no signs of a breakout or crash, and the market is waiting for clearer signals.
Operation suggestion: Prepare for both scenarios based on key positions.
For those who already hold ETH:
The primary task is to set a stop-loss: Clearly set the stop-loss below $2890, and a drop below the recent low of 2885.46 can be considered as a sign of short-term structural deterioration.
Reduction observation point: If the price rebounds to around $2945-$2955 and cannot effectively break through, consider reducing part of the position to lower risk.
Increased position conditions: Only when the price shows increased volume and stabilizes above $2960 can one consider adding back or increasing positions, with the stop-loss adjustable to $2930.
For those looking to enter the market: It is strictly prohibited to open positions at the current price level; there is room both up and down, making it an awkward position with a poor risk-reward ratio.
Two clear entry strategies (choose one):
Right side breakout to go long: Patiently wait for the price to break out with increased volume and stabilize above $2955, at which point a small position can be taken, with the stop-loss set below $2920.
Left side ambush to go long: If the price first declines and obtains clear support in the range of $2890-$2900, a small position can be tested, with the stop-loss set below $2870.
Recently, the main focus has been on internal sharing. If you want to learn more useful tutorials and trading ideas, enterthe chat roomto unlock more useful knowledge.
