#ETH

Ethereum recap yesterday
Yesterday during the day, Ethereum exhibited a sideways trend at a high range, oscillating around the 4480 and 4550 range. Throughout the day, the bullish market was relatively strong, consistently staying above the M5 short-term moving average, forming a one-sided upward trend. In the early morning, the bulls suddenly exerted continuous force, leading to a strong rise, reaching a peak of 4750, with a four-hour increase of 220 points. However, recently, attention should be paid to the "interest rate cut" favorable news being realized in advance, causing a situation of escaping the peak and downward pinning.
From the 4-hour chart, ETH is currently in a one-sided upward phase with pullbacks not breaking the short-term moving average, and the market continues to rise. The Bollinger Bands are opening up, with the middle line moving upwards, corresponding to the market's rise. The three lines of the Bollinger Bands correspond to prices 4445--4593--4740. From the 4-hour chart, the bullish volume is starting to gradually weaken; if it breaks below the short-term moving average, a significant correction may occur.
The 4-hour chart MA indicator shows a single-sided upward trend, with the market entering an upward phase and bullish volume gradually increasing. The hourly chart shows a short-term moving average rising unilaterally, but the bullish volume is starting to weaken. At this time, the market is running above the short-term moving average, corresponding to a continued upward movement with certain pullbacks.
The MACD indicator on the hourly chart is in the upward phase above the 0 axis, with bullish momentum starting to weaken, corresponding to a market pullback. On the 4-hour chart, there is a double upward line on the 0 axis, with bullish momentum continuing to strengthen, corresponding to a market rise.
The RSI indicator is in the overbought phase corresponding to the value 100---99.5. Currently, the double lines are crossing and parallel, and the market has started to fluctuate, which may be accompanied by a certain technical pullback. However, continuing to rise may also lead to an accelerated increase in the market.
Conclusion: High-level sideways fluctuations
Pressure: 4780, 4850, 4950
Support: 4660, 4550, 4480
High-altitude strategy: establish a short position near 4780, add positions at 4850, and set a stop-loss if it breaks and stabilizes above 5000.
First Take Profit: 4630
Second take profit: 4490
Long strategy: Establish a primary long position near 4550, with an additional purchase point at 4400. Stop loss if it breaks and stays below 4350.
First take profit: 4630
Second take profit: 4999