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The Ethereum (ETH) market has recently exhibited significant fluctuations, drawing close attention from investors. As of the time of writing, the ETH price is 3850. A series of noteworthy changes in technical indicators have emerged: the daily candlestick reached a high of 3869 and a low of 3728; the EMA15 trend fast line is nearing the golden ratio 0.786 support level; the KDJ indicator has formed a death cross at a high level; the MACD has shown a top divergence; trading volume has decreased; and the DIF and DEA indicators are in a spreading state at high levels.
The upper band of the Bollinger Bands has moved up to 4140, while the middle band remains at 3365. Although the bullish trend continues, the market seems to lack sufficient Trading Volume support, and this phenomenon of rising without volume is worth being cautious about. The current market situation is largely driven by market sentiment, and rational investors should remain cautious; temporarily waiting may be a wise choice.
For short-term traders, safety is always the primary consideration. It is recommended to closely monitor the key support level of 3600. If considering a short position, a tentative entry can be made in the range of 3950 to 4000, with 4050 set as the defense point, a stop-loss of 50 points, and target levels to focus on in the range of 3900 to 3850. If a breakout occurs, it can further probe down to 3800 to 3750. Conversely, if looking to go long, an entry can be attempted in the range of 3750 to 3700, with 3650 as the defense point, also setting a 50-point stop-loss, and target levels can aim for 3800 to 3850, with a breakout potentially leading to 3900 to 3950.
It is worth noting that in the current market environment, protecting existing assets and controlling risks may be more important than pursuing new profit opportunities. Investors should flexibly adjust their strategies based on real-time market data and must remember not to blindly chase increases or sell off at losses. In this uncertain market, maintaining a clear mind and rational judgment is crucial.