3.18 Coin Circle Mr. Coin: Ethereum (ETH) Market Analysis Reference
Let's take a look at what changes have occurred in the Ethereum market—have the pullback risks we were worried about been resolved? Today, I'll tell you with a few key signals that the bulls now hold the initiative. Looking at the 4-hour level. On March 17 at 8 PM, this candlestick is very critical, with a long lower shadow, a hammer candlestick. This is a typical 'bottom exploration' signal, where the price drops but is immediately pulled back by the bulls. Subsequently, several bullish candlesticks confirmed that the short-term bottom is valid.
Switching to the daily level, this formation is even more interesting: the large bullish candlestick on March 16 completely covers the previous day's bearish candlestick body. This is called 'bullish engulfing' or 'bullish swallowing' in candlestick patterns, which is a clear reversal signal. The bears just exerted their strength, and on the next day, they were completely engulfed by the bulls, with strong buying pressure.
From the indicators: at the 4-hour level, the MACD fast line (DIF) and slow line (DEA) have just formed a golden cross above the zero axis. The specific values are 63.68 crossing over 61.11, indicating a short-term bullish signal. Meanwhile, the MACD red bars at the daily level are still lengthening, reaching a value of 99.45, indicating that the mid-term upward momentum is still strengthening. Looking at the moving average system: the price is now firmly above all EMA moving averages. Moreover, it presents a very standard bullish arrangement: the short-term 7-line at 2316, the mid-term 30-line at 2215, and the long-term 120-line at 2096—7 > 30 > 120, layer by layer increasing, which is a typical ascending channel structure.
The trading volume in the last 4 hours is 289,973 ETH, which is a 43% decrease compared to the previous period. The volume contraction is quite evident. This indicates that this wave of increase is temporarily driven by existing funds, with not much new capital entering. Thus, it is necessary to be cautious of the risk of a contraction pullback in the short term, as it might not surge forward all at once.
Overall, the current market signals are biased towards bullish—bottom confirmation, indicator golden cross, and bullish moving average arrangement, with the trend pointing upwards. The only hidden danger is that the trading volume hasn’t kept up. Therefore, do not chase high; consider waiting for a pullback to support before taking action. Follow Mr. Coin to grasp the market rhythm in real time.
3.18 Ethereum Short-term Reference:
2345-2395 range is cautious, defend at 2580, target below 2300,
2200-2250 range is cautious, stop loss 50 points, target above 2300,