Coin Circle Liying: 4.17ETH fluctuates and consolidates at 2320, is it an entry opportunity or should we continue to observe? Latest market analysis and operational suggestions
Family! Ethereum is currently priced at 2320, the price has retreated below the middle track of the Bollinger Bands at 2337, entering a short-term correction phase. The moving average system shows a bullish arrangement but momentum is weakening: MA7 is closely attached to the current price creating immediate pressure, MA30 is a medium-term pressure, and MA120 is a long-term support. All three lines are moving up simultaneously, but MA7 is forming a small-level suppression with the current price, confirming that the medium-term upward trend remains unchanged but the short-term needs to digest profit-taking. The Bollinger Bands are slightly tightening, and the price is operating in the middle-lower track range, with moderate trend strength. In the MACD indicator, DIF crosses below DEA, and the green bars are expanding, indicating that bearish momentum is becoming dominant in this phase, while trading volume is shrinking during the correction, with bullish capital not yet showing obvious withdrawals. The technical structure is healthy but caution is needed regarding a deeper correction.
From a momentum perspective, the RSI indicator is around 55, in the neutral zone, while the KDJ indicator is running below 50, showing short-term adjustment but has not entered the oversold territory. The middle track of the Bollinger Bands at 2337 acts as strong support turning into pressure, if the price breaks above this level with increased volume, it will regain its upward momentum targeting 2370-2416; key support below is at MA120 long-term support and the lower track of the Bollinger Bands at 2302 as immediate support, with stronger support at the previous low of 1936. The current price of 2320 is at a critical game position after a correction; if it stabilizes with candlestick closing bullish within the range of 2302-2310, and MACD green bars shorten, it indicates a buying opportunity for the bulls; if it breaks below 2302 with increased volume, caution is needed as it may correct to MA120.
Short-term practical strategy (Liying teaches directly, accurately targets the market)
Bullish strategy: Hold above 2320-2300 to buy, stop loss at 2260, with a target of 2350 aiming for 2400
Bearish strategy: Selling on a rebound at 2390-2400, stop loss at 2420, with a target of 2350 aiming for 2320
The market will always reward those who respect the trend and strictly adhere to the rules!
Note: The above analysis is solely derived from Liying's technical logic and does not constitute investment advice. The market is risky; investment should be cautious.
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