ETH Technical Analysis Report - 2024-04-29🟢

Basic Market Information

• Current Price: 1,816.54 USDT
• 24h Price Change: +0.77% (+13.88 USDT)
• 24h trading volume: 231.16K ETH (approximately 414 million USDT)
• 24h volatility range: 1,744.90 - 1,827.49 USDT

Technical Analysis

• Trend Analysis:

  • Short-term (7-day MA): Upward trend, breaking through multiple resistance levels
  • Mid-term (25-day MA): sideways consolidation, 50-day moving average forming resistance
  • Long-term (99-day MA): Downward trend, need to observe whether it can break through the downward channel.

• RSI(14) Analysis:

  • The current RSI is around 60, indicating moderate upward momentum.
  • Not yet in the overbought zone, still has room for upward movement.

• MACD Indicator:

  • The MACD line forms a golden cross with the signal line
  • The histogram has turned from negative to positive, indicating a strengthening of short-term momentum.

• Bollinger Bands Analysis:

  • The price has broken through the middle track, indicating that an upward trend has been established.
  • The upper band is around the 1,900 position, which is an important short-term resistance.

Market Sentiment Analysis

• Institutional capital flow is warming up:
  • ETH ETF saw the largest single-day net inflow since February ($38.8 million)
• Fidelity and Bitwise's ETF products attract a large amount of funds.
• Technical Analysis shows strength:
  • Price breaks through multiple resistance levels
  • The trading volume combined with the price increase indicates a strengthening of buying power.
• Potential Risks:
• The net inflow of the exchange exceeded 150 million USD, indicating profit-taking pressure.
• The futures market has seen a large-scale liquidation ($81.82 million)

Operation Suggestions

• Position Direction: Bullish
• Key Price Level:
  • Resistance levels: 1,900 (Bollinger Band upper limit), 2,000 (psychological barrier)
  • Support Level: 1,688 (important technical support), 1,745 (intraday low)
• Short-term Strategy:

1. You can buy on dips in the range of 1,745-1,780
2. The target is set at 1,900
3. It is recommended to set the stop-loss level below 1,680.

• Risk Warning:

1. Be aware of the fluctuations that may arise from the Pectra upgrade on May 7.
2. Pay attention to the selling pressure from profit-taking orders.
3. It is recommended to set strict stop-loss orders and control positions.