April 5th #Gate广场四月发帖挑战 ETH Trend Analysis

Bare K and Volume: The daily candle closed with a large bearish candle still within the major fluctuation range. After the large bearish candle, a doji appeared, indicating weak bullish resistance. After the consolidation, the trend is likely to continue downward. Short-term rebound is weak, and the market is consolidating sideways.

Moving Averages: Daily support at 2042, resistance at 2111; 4-hour resistance at 2055-2080.

MACD: Likely to continue consolidating over the weekend. It is recommended to refer to the 15-minute and 1-hour smaller timeframes, or even choose the 5-minute indicator for ultra-short-term signals.

Bollinger Bands: Daily lower band support at 1918, middle band resistance at 2111. The daily middle band breakout failed, so long positions on the daily level should wait for the lower band. 4-hour middle band resistance at 2080, lower band support at 2007. The Bollinger Bands are flat, with the upper band indicating a short position and the lower band a long position.

Supply and Demand: Upper resistance: 2139-2167. Lower support: 2011-2030( smaller position), 1936-1983, 1833-1865.

Vegas Channel: 4-hour resistance at 2088, upper resistance at 2144-2180.

Fibonacci Sequence: 1936-167. The retracement at 0.618 is 2024, and at 0.786 is 1985. The 0.618 support level is still tradable but not recommended to hold too heavy a position. Conservative traders can look further down to 0.786.

Personal advice for reference only: The daily level is within a consolidation range. The short-term downtrend has temporarily halted and is currently in a consolidation phase. With weekend low liquidity, it is recommended to follow a high sell and low buy strategy according to the sideways market. Aggressive support zone below: 2000-2038; conservative support: 1936-1983. The 2138 level is a good shorting point.

All above opinions are purely personal views and do not constitute any investment advice. Investing involves risks; please trade cautiously.