$ETH Saturday “Second Cake” Analysis



By looking at the Bollinger Bands, you can see that after the price retested the middle band, it held its ground steadily. The support range below is very solid, and short-term capital shows strong willingness to absorb.

During the decline, it never managed to break down consecutively. The pullback has been limited. Now the bulls have regained initiative over the market, and the candlesticks are gradually lifting upward.

The short-term corrective trend is already clear. After the shakeout finishes digesting the floating positions, the upward breakout has a high probability.

Trading idea: Long near 1730, with targets at 1780-1810.
ETH0.75%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 3
  • Repost
  • Share
Comment
Add a comment
Add a comment
GateUser-176c498f
· 6h ago
The middle band support is indeed strong, and opening a long position at 1730 feels quite comfortable. Setting the stop loss below 1700 should be sufficient.
View OriginalReply0
AprWhisperer
· 6h ago
1810 target is a bit conservative; if it breaks through the previous high with volume, directly seeing 1850+ is not impossible.
View OriginalReply0
ReminderOfWavesCrashingAgainst
· 7h ago
The Bollinger Bands narrowed and then opened upward, the pattern looks like it's going to test the previous high, but weekend liquidity is low, so don't take heavy positions.
View OriginalReply0
  • Pinned