Ethereum: Strong attack on the previous high resistance failed, has the southward pullback become a foregone conclusion?
As of 5:35 AM Beijing time, Ethereum is priced around 3145. The first target we anchored for the northbound has accurately reached 3170, and the resistance shows strong performance. For the long positions laid out at the 2950 level, profits can be decisively taken at the 3170 mark. Although a space of 220 points was gained, the profit margin is limited, and the bullish indicator status on the daily level is not optimistic. After encountering resistance at the 3170 level, the main funds have not been able to achieve effective breakthroughs; if a solid K-line pattern can be formed at the resistance level, this round of northbound market can still be held, while the current optimal strategy is to exit first and observe, waiting for effective break signals at resistance or support levels before deciding when to enter.
From the daily K-line trend, the price peaked at 3180 before the article was published and dipped to 3038. The EMA trend indicator continues to contract upwards, with the K-line standing firm on the EMA15 trend line 3050 for three consecutive days before launching an attack, clearly building momentum to challenge the 3170 resistance level. Whether it can break through the previous high resistance in one go still requires time to verify: an effective breakthrough will lead to following up with long positions and continuing the northbound market; if the breakthrough fails, the market will likely turn south. The MACD indicator shows an increase in volume, with the DIF and DEA dual lines expanding upwards, indicating that bullish momentum remains; the Bollinger Bands are contracting simultaneously, with the upper pressure level at 3215, the lower support level looking at 2735, and the middle track running at around 2980.
On the four-hour level, the bullish performance is relatively strong, with the K-line repeatedly testing below the 3170 resistance level. The MACD indicator has been continuously increasing in volume, with the DIF and DEA forming a golden cross pattern, maintaining an overall bullish trend. The Bollinger Bands' upper and lower tracks are contracting simultaneously, with the upper pressure level at 3154 having been tested multiple times before breaking, while the lower support level at 2980 remains relatively solid, with bulls slightly in the lead in the long-short contest. The core strategy is still to wait for confirmation of directional signals, and after the breakout pattern is clear, then decide when to enter the market.
