3.31 Cryptocurrency Circle Mr. Coin: Ethereum (ETH) Market Analysis Reference
During the day, Ethereum faced pressure around the 2085 level and began to decline. In the evening, the price continued to test lower; although it bounced back a few times, it did not exhibit the rebound we expected. In the short term, there have been consecutive bearish candles, and the bearish sentiment is clearly intensifying. On the four-hour chart, a prominent long upper shadow formed, reaching a high of 2086.99 before quickly retreating, which technically signals a typical short-term top. Additionally, the daily candles have closed below the EMA30 for three consecutive days, and the overall moving average system shows a bearish arrangement, making the trend unfriendly to the bulls.
The four-hour MACD's DIF and DEA formed a dead cross below the zero line, and the green bars of the daily MACD are also expanding, currently at a negative 34.86. In terms of EMA moving averages, the price has fallen below all key EMA lines, including 7, 30, and 120, exhibiting a very standard bearish arrangement, with values at 2033, 2041, and 2084 respectively. This structure suggests that the resistance for any potential rebound will be quite dense, and everyone should be cautious of the price moving lower. Therefore, in terms of operations, our thinking remains unchanged, still focusing mainly on rebounds as the primary approach.
3.29 Ethereum Short-term Reference:
In the 2095-2065 range, defend against 2280 and aim below 2020,
In the 1960-1910 range, stop loss at 50 points, target above 2000,
There may be delays in message delivery, strategy suggestions are for reference only, the market changes rapidly, regardless of how accurately one judges the market, stop-loss and take-profit must be managed well, securing profits is important.
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For more daily real-time updates, you can follow the public account (Mr. Coin Talks Crypto) to access. Online market technical learning, exit solutions, etc. I have researched the market for many years, studying major trends in the crypto space, and have furthered my studies in the U.S. focusing on analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. I welcome all fellow crypto enthusiasts who are unsure about operations to study and learn together.
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