Cryptocurrency Scholar: Is the Current Rebound of 7.5 Ether (ETH) a Trap or a Reversal? Latest Market Analysis Reference

The current price of Ether is 1790, don't shout bull market as soon as it rises. The overall trend on the daily chart is still bearish, there are layers of moving average resistance above, making each step very laborious. If you are trading short term, get in and out quickly, don't be too ambitious, and managing your stop-loss is more important than anything else. After all, market sentiment is unstable, and a news-driven fluctuation can undermine the rebound. Stay stable and don't be greedy.

The daily K-line is sitting above the EMA15 moving average of 1674, but is still constrained by the EMA30/60 and other mid-term moving averages, overall in a corrective phase after a downtrend. The MACD indicator shows that the DIF crosses above the DEA, and the green bars turn red, with downward momentum diminishing, but the red bar's volume is still weak, and a strong confirmation of upward movement has not been formed yet. The middle rail of the Bollinger Bands is continuously declining, the price has just broken through the middle rail around 1677, the upper rail at 1838 forms short-term resistance, and the lower support is at 1503.

The four-hour K-line has shown a rebound, with the price stabilizing above the EMA15/30 short-term moving averages, and the moving averages turning upwards forming a short-term upward arrangement. The MACD indicator shows a consistent increase in red bars, and the DIF is operating above the zero axis, with upward momentum still being released, making the short-term trend relatively strong. The Bollinger Bands are opening upwards, with the price operating near the upper rail, and short-term overbought signals beginning to appear, requiring caution against retracement risks. The key resistance above is located at the Fibonacci 23.6% level of 1730, and the support below is at the EMA30 moving average of 1689.

Short-term Reference:

If it doesn't break below 1750 to 1700, go long, stop loss at 1660, target at 1820 to 1870.

If it doesn't break above 1850 to 1880, go short, stop loss at 1910, target at 1800 to 1750.

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