Currency Sea Riding Waves: 7.6 Ethereum (ETH) Market Analysis Reference:

After Ethereum tested the 1800 level, it experienced a slight pullback, currently operating around the price of 1772. The price has stabilized above the middle band of the Bollinger Bands on the daily chart, overall in a volatile upward channel. The moving average system shows a bullish arrangement, with the short-term EMA7 and EMA15 firmly supporting the market, while the medium to long-term moving averages are turning upwards, maintaining a healthy upward structure. The MACD indicator remains expanding, with the DIF continuously operating above the DEA, indicating ample bullish momentum; however, the KDJ's J value has entered the overbought range, and the RSI indicator is also nearing high levels, indicating a short-term need for a technical pullback. Strong resistance above is at the upper band of the Bollinger Bands at 1832, while support below is at the resonance level of the middle band of the Bollinger Bands and the short-term moving average around 1720. It is expected that in the short term, there will be digestion and consolidation at high levels, and after testing the support, it is likely to continue upwards to test the resistance level.

The short-term 4-hour market began to move sideways after peaking at 1808, with the price retreating below the upper band of the Bollinger Bands, and the Bollinger Bands are starting to narrow. The MACD shows signs of a bearish divergence, with the fast and slow lines forming a death cross diverging downwards, indicating a significant reduction in bullish strength; the three lines of the KDJ are turning downwards, and the RSI is simultaneously retreating from high levels, indicating a rise in short-term bearish sentiment. Resistance above is locked in the 1790-1808 range, while the primary support below is at EMA15 and the middle band of the Bollinger Bands at 1755. The 4-hour level is likely to see a pullback correction first, and only if it stabilizes above the 1808 high can a new round of upward movement be restarted; otherwise, it will test the moving average support to finish the consolidation.

Currency Sea Riding Waves: 7.6 Ethereum Short-term Reference:

Short position: Short in the range of 1830-1800, stop loss above 1850, target looking at 1770-1720,

Long position: Long in the range of 1700-1730, stop loss below 1675, target looking at 1760-1800,

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