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Market Review:
In the early hours, Ethereum surged strongly from $1985 to the $2050 level, then slightly retreated, currently oscillating around $1995. This rebound after reaching a new high is a normal technical correction. Our long position strategy laid out last night has already taken profit smoothly. The price holding above $1990 confirms the buying interest below. After a brief pause, the bulls still hold the initiative.
Technical Analysis:
On the four-hour chart, as long as the key support at $1980 is not broken, the rebound structure starting from $1920 remains intact. This rally successfully shifted the focus from around $1950 to near $2000, forming a clear stepwise upward pattern. The MACD has just formed a golden cross on the four-hour timeframe, and the RSI has rebounded after testing the midline, indicating that upward momentum has not faded. The price is testing the EMA30 resistance. Once it stabilizes above the $2000 level, the upside space will further open.
Trading Suggestions:
Today, focus on the support zone of $1980-$1990. As long as the price stays above this area, the market remains in a bullish-controlled oscillation upward pattern. Every confirmation of support is a good entry point for longs. The first resistance targets are $2030 and the previous high at $2050. If a volume breakout occurs above the psychological $2000 mark, bulls are likely to gather strength and launch an attack toward $2100. #Gate2月透明度报告 $ETH