ETH Market Depth Analysis: Opportunities and Layouts in the Pullback

In the world of investment, every market fluctuation contains opportunities and challenges. Yesterday, in our analysis of the ETH trend, we mentioned that its weekly K-line was on the verge of breaking, heavily suppressed by the MA30. However, market movements are always full of variables. Although yesterday's depth pullback made many investors feel anxious, from a longer time perspective, it was actually a healthy adjustment.

Long-term trend: still bullish

From the weekly K-line perspective, the price of ETH has stabilized above 2400. Although there was a deep pullback yesterday, this does not indicate a trend reversal. On the contrary, it reflects the adjustment of market sentiment. From a long-term perspective, the long-term trend of ETH remains bullish. This pullback actually provides investors with a better entry opportunity.

Intraday trend: Opportunity in the pullback

Next, we focus on the intraday trend. From the hourly chart, the previous upward range was 2406-2738. Using the Fibonacci pullback indicator, we can clearly see that the price has tested the 61.8% pullback level multiple times before declining. Although there was a small break below during this period, it was mostly shadow testing without any effective break, showing an overall oscillating trend. This kind of movement indicates that the market still has strong support during the pullback.

Further observing the thirty-minute chart, the range of 2738-2477 is the value range of a recent deep pullback. Through the Fibonacci retracement lines, we can see the extreme tugging during the trend process. After each breakthrough, there is a small pullback, which further validates our previous judgment: this is a healthy pullback, not a trend reversal. The first pullback did not break down, continuing downward; the second pullback did not break down, continuing downward, until a strong surge occurred after reaching the position of 2477. Therefore, in the short term, 2477 is a bottom position.

Short-term layout: Patiently wait for the pullback.

In the case of a short-term bottom, after the price breaks through the 38.2% pullback level, the target will naturally look towards 61.8%. However, the current real-time position has not been able to break through at once, which means the price needs to adjust. So, how should we layout intraday?

From the fifteen-minute time frame, the RSI indicator has declined from an overbought position to a stable position, indicating that the trend will undergo a downward adjustment. After stabilizing at the current position, a breakout may occur. Therefore, shorting in the short term is not appropriate, as it is difficult to see a Depth pullback at this position. Our strategy should be to patiently wait for the price to pull back to a low position before entering a long position, targeting the level of 2640.

Summary: Seize opportunities during pullbacks.

The investment market is always full of uncertainty, but through technical analysis and understanding market sentiment, we can find opportunities within it. Yesterday's pullback, although it made many investors nervous, is a healthy adjustment in the long run. The intraday trend also shows that prices are supported during the pullback, providing us with an entry opportunity.

When entering the market, be sure to remain patient and wait for clear trend signals. Do not rush to enter, as you may miss better opportunities. I hope today's analysis can be helpful to everyone. If you have any questions, feel free to communicate with me at any time.

Finally, don't forget to follow "Gu Zhi Shuo Trend", see you next time!