Academician of the Coin Circle: The bullish trend of Ethereum (ETH) on 9.15 has not broken, but momentum is weakening. What is the forecast for the market direction? Latest market analysis reference

The current price of Ethereum is 2435. After quickly falling back from a peak of 2666, I am all mixed up inside: Is this wave of upward market over? The current price is around 2501, and long and short positions are competing at this position. The overall bullish structure of the big trend has not been completely broken, but short-term selling pressure has already emerged. Next, the focus will be on whether the support can hold. If the support is broken, the market will truly weaken. If the support holds, there will still be a chance to test the previous high again.

The short-term EMA15 on the daily chart is forming support around 2464, the upper Bollinger Band is at 2546, the lower band at 2399, and the price is fluctuating below the upper Bollinger Band. The MACD indicator shows that the red bars are starting to shrink, and the DIF shows signs of turning down towards the DEA, indicating that bullish momentum is weakening. Currently, the daily level is in a high-level consolidation phase after a significant increase, not directly turning bearish, but the momentum for further upward movement is clearly diminishing, and the market is entering a consolidation stage. The upper level at 2666 will become a strong resistance point in the short term.

The four-hour K-line falls back to the short-term moving average, with EMA15 at 2504; the overall cluster of moving averages is still upward, maintaining a medium-term bullish trend structure. The middle Bollinger Band is at 2512, and the lower band at 2466, and the current price is oscillating around the middle Bollinger Band. The MACD's DIF has crossed below the DEA, forming a death cross, with green bars slightly increasing, indicating that short-term bearish strength is being released. The cycle is in a high-level correction, a pullback after an increase, not a trend reversal. The key support below is seen in the 2485-2466 range, and once this range is broken, the pullback will further amplify.

Short-term reference:

If the price does not break 2470 to 2480 on the downside, go long with a stop loss of 40 points, targeting 2550 to 2580.

If the price does not break 2550 to 2560 on the upside, go short with a stop loss of 40 points, targeting 2490 to 2470.

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