Coin circle Liying: 3.29 Ethereum ETH in-depth analysis: Bollinger Bands snuffing out oscillation, under a bull-bear meat grinder market, rebound or crash?
Family! Ethereum has recently seen extreme correction fluctuations with a rise and then a drop: repeatedly grinding in the range of 1970 to 2070, forming a very narrow converging triangle of Bollinger Bands. Currently, bulls are firmly defending support near the bottom line at 1972, while bears are applying pressure layer by layer in the 2100 range. Liying asserts that the short-term bull-bear game has entered a white-hot stage, and the breakout direction of the Bollinger Bands will determine whether ETH will have a dramatic rebound or accelerate its crash!
The current price 2024 is running below the mid-line of the Bollinger Bands at 2011, close to the lower line at 1949. Short-term bearish power is dominant, but the support at the lower line is very strong, having been tested multiple times recently without effective breakdowns. If it breaks above the upper line at 2073, it will open up an upward space to 2150. If it breaks below the lower line at 1949, it will accelerate the decline to 1850 - the previous low point. The short-term moving average MA has formed a dead cross, and the moving averages are exhibiting a downward divergence, directly suppressing the price. MACD bearish power is waning, and DIF continues to operate below DEA, indicating that bearish power is weakening, and bullish rebound demand is heating up.
Short-term practical strategy (taught by Liying, precisely targeting the market)
Bullish idea: stabilize above 2073 to go long, stop loss at 2050, target is 2150 aiming at 2200
Bearish idea: effectively break below 1950 to short, stop loss at 1980, target is 1850 aiming at 1800
Risk warning: Cryptocurrency is highly volatile, strategies are for reference only, must be combined with personal risk tolerance for operation, strictly stop loss!
Note: The above analysis is solely based on technical logic by Liying, does not constitute investment advice. The market has risks; investment requires caution.
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