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Recently, the Ethereum (ETH) market has shown a relatively strong trend, with the daily chart's upward trend remaining intact, and pullbacks are still seen as buying opportunities. However, there has been a manageable pullback in the market in the short term.
From the daily chart perspective, ETH maintains a moderately bullish outlook. The price is above the 9-day and 21-day exponential moving averages, the Relative Strength Index (RSI) is above 60, and the Moving Average Convergence Divergence (MACD) remains positive, confirming signals for long positions on the right side. Bulls may consider increasing positions in the range of 4,420 to 4,360 while setting a stop loss below 4,300. The upside target price levels include 4,650, 4,868, 5,050, and 5,400.
The four-hour chart shows a slight bearish trend in the short term. The price has fallen below the short-term moving average but is still above the 200 moving average. The MACD is negative, and the RSI is below 50. Bears can pay attention to the breakout point at 4,380, with target price levels of 4,300, 4,120, and 3,950.
The hourly chart also shows a slight bearish trend, with short-term moving averages starting to curve downwards, RSI below 50, and MACD below the zero line. Short-term traders can pay attention to the breakout point at 4,430, with target prices at 4,400, 4,360, and 4,300.
Comprehensive strategy recommendations:
1. Medium to long-term investors can maintain long positions, considering to increase their positions in the range of 4,420-4,360, with a stop loss set at 4,300.
2. Day traders can attempt a hedging short in the range of 4,490-4,515, and consider adding to their position below 4,380.
3. Always respect market trends and use a gradual position-building and trailing stop-loss strategy to manage risk.
Market participants should closely monitor market changes and adjust their strategies in a timely manner. Although there are short-term pullback risks in the current ETH market, the overall trend remains optimistic. Investors need to balance risk and return, making informed decisions based on their own risk tolerance and investment goals.