Looking at the 4-hour chart, the signals are a bit "grinding": the Bollinger Bands are narrowing, and the price is slowly moving up along the 5-day moving average, but the upward momentum is clearly insufficient. Before breaking through the key resistance level in the short term, do not blindly chase long positions, otherwise, you may encounter resistance and fall back down.
The current market is experiencing wide fluctuations, with no signs of a breakthrough. Prices are alternating between bullish and bearish candles below the midline of the Bollinger Bands, and there is currently no clear direction for bulls or bears. Looking at the larger short-term pattern, the overall trend still leans towards weakness. This round of adjustment has lasted quite a while, with every rebound failing to reach key resistance, and the pressure level above is gradually pushing down.
Therefore, for intraday trading, it is more prudent to consider shorting at high prices.
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9.1 Ether Morning Trend Analysis:
Looking at the 4-hour chart, the signals are a bit "grinding": the Bollinger Bands are narrowing, and the price is slowly moving up along the 5-day moving average, but the upward momentum is clearly insufficient. Before breaking through the key resistance level in the short term, do not blindly chase long positions, otherwise, you may encounter resistance and fall back down.
The current market is experiencing wide fluctuations, with no signs of a breakthrough. Prices are alternating between bullish and bearish candles below the midline of the Bollinger Bands, and there is currently no clear direction for bulls or bears. Looking at the larger short-term pattern, the overall trend still leans towards weakness. This round of adjustment has lasted quite a while, with every rebound failing to reach key resistance, and the pressure level above is gradually pushing down.
Therefore, for intraday trading, it is more prudent to consider shorting at high prices.
Operation Strategy:
- Layout the Ether range between 4400-4480, aiming to see around 4350-4250.
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