Coin Sea Wave: 4.20 Cryptocurrency Ethereum (ETH) Latest Market Analysis and Insights for Tonight, Reference Only

Coin Sea Wave: 4.20 Ethereum (ETH) Market Analysis Reference:
Ethereum daily chart currently in a high-level consolidation phase after previous upward movement, with price operating above the middle band of the Bollinger Bands, although it has retreated from the high point, it still relies on the EMA30 moving average to stay within the upward channel.
The moving average system remains in a bullish arrangement, and the medium to long-term trend has not turned negative; the MACD indicator continues to shrink in size, with bullish momentum clearly weakening, the DIF line is still above the DEA line, but the gap is narrowing; the RSI indicator hovers between 50-60, indicating a balance between bulls and bears; the KDJ indicator J line is retreating, showing a short-term correction and recovery need.
The strong resistance above is near the upper Bollinger Band at 453, while the key support below is at MEA20 and EMA30. If these supports hold, the price is likely to maintain high-level consolidation; if the support is effectively broken, a new deep correction may begin.
Ethereum 4-hour timeframe has entered a correction cycle, with the price hovering around EMA7, breaking below short-term moving averages EMA15 and EMA20, the Bollinger Bands are converging, and volatility is narrowing.
The MACD indicator's DIF line has crossed below the DEA line, forming a death cross and continuously releasing bearish momentum; the RSI indicator has turned upward from a low level to a neutral zone, while the KDJ indicator's low point is turning upward, indicating a short-term slight rebound and recovery space.
Resistance above is concentrated at the resonance zone of the middle Bollinger Band at 2347 and short-term EMA averages, while support is near the lower Bollinger Band at 2252.
Short-term trading should adopt a range-bound approach, focusing on key support and resistance breakout situations.
Coin Sea Wave: 4.20 Ethereum Short-term Reference:
Short position: short in the 2380-2350 range, stop loss 30 points, target 2300-2250,
Long position: long in the 2220-2260 range, stop loss 30 points, target 2300-2350,
This content is originally shared by 【Coin Sea Wave】, representing personal opinions only. The article may have delays, for reference only. Do not operate blindly!
Hope everyone can stick to their principles on the investment journey, regardless of how the market changes, and maintain rationality and calmness. #RAVE闪崩超90% #加密市场小幅下跌 $ETH