$ETH CryptoCircle LiYing: April 1st, Ethereum (ETH) surged then retraced, encountering resistance at the upper Bollinger Band, with a fierce battle between bulls and bears at 2080! Latest market analysis and trading suggestions explained

Family! The rollercoaster of Ethereum's sharp rise and fall faced pressure after testing the upper Bollinger Band at 2087, closing with a long upper shadow bearish candle. The MACD red histogram rapidly shortened, and the DIF line turned downward, approaching the DEA line. Bullish momentum is rapidly diminishing at high levels. However, the middle Bollinger Band at 2048 and the MA7 still provide short-term support. The bulls and bears are entering a heated contest. LiYing reminds: Short-term volatility is increasing; strictly cut losses and avoid blindly chasing highs or bottom-fishing.

The upper Bollinger Band faces resistance, the channel narrows, with the distance between the upper band at 2087 and the lower band at 2010 shifting from expansion to contraction. The price tested the upper band with a long upper shadow bearish candle but failed, indicating very strong resistance at 2100-2150. Currently, the price at 2057 has fallen back near the middle Bollinger Band at 2048. If it can hold above the middle band, bulls still have a chance to rebound; if it breaks below, it will return to a weak sideways trend. Short-term support from moving averages, medium-term resistance, MACD momentum fading, the DIF starting to turn downward approaching DEA, with the red momentum histogram rapidly shrinking, indicating significant weakening of bullish momentum. If DIF crosses below DEA to form a death cross, it will confirm a short-term correction signal.

Short-term trading strategy (LiYing's precise market guidance):

Long position idea: 2020 to 2040, stop loss at 2000, target at 2080 aiming for 2120

Short position idea: 2080 to 2100, stop loss at 2120, target at 2040 aiming for 2000

LiYing's insight: The market always rewards those who respect the trend and strictly follow the rules!

Note: The above analysis is based solely on technical logic by LiYing and does not constitute investment advice. The market carries risks; invest cautiously. ‌#加密市场普遍上涨 #Gate金手指